A market in which homes normally sell in no more than six months of listing is considered balanced or neutral, which means a good number of homeowners are selling and buyers are purchasing; therefore, neither has an upper hand. A variable, for instance, like a major company entering — or moving from — the area will tip the scale toward homeowners to make a swift market or toward buyers to make a slow market. The typical selling time in a swift market might be about 30 days, while that of a slow market may be up to nine months. Typically, any number below six months is considered a seller’s market.
LIVING IN A FISHBOWL
A house on the market requires keeping the home in a constant “show-ready” condition, and changes in day-to-day life are inherent in the process. Sellers often receive unexpected phone calls at all hours from unrepresented prospects and buyers’ agents requesting showings, along with frequent updates from the listing agent by phone, email, text, and showing-appointment notifications. They also will likely deal with repair and reconditioning appointments and inspections. There are repeated showings when the home first hits the market. Keep your home in pristine showing condition for impromptu visitors — the perfect prospect might just drop in at dinnertime.
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