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5 Reasons Why My Home Is Taking Too Long To Sell

Saturday, November 18, 2023   /   by Teresa Pileggi

5 Reasons Why My Home Is Taking Too Long To Sell

Overview

Is your home taking too long to sell? Worry not, as you are not the only victim of this circumstance. Most home sellers have found themselves in such unfortunate situations at one time or another. Ideally, once you list your home for sale, the next thing you expect is to get viewings from prospective buyers who are interested in purchasing it as is. While some home sellers have been able to sell their homes successfully in the past after putting it up for sale, there are some whose homes take months before they sell. In this article, we shall demystify some of the reasons why your home might take too long to sell. Continue reading to learn more!


1. Your home’s price is too high

One thing that homebuyers pay attention to when purchasing different properties is the asking price. If you have priced your home too high, be sure that homebuyers will be shy from contacting you for a deal.

Instead, they will be prompted to consider other less expensive options within your neighborhood. This is the reason why you should review and select your asking price and make it competitive enough to attract buyers from the start. Ideally, the more recent sales comparable will help you come up with the most ideal asking price for your home.


2. Your home needs to be renovated

Suppose you have been living in your home for several years, chances are that some areas need to be remodeled or decluttered. Whether it is your kitchen or bathroom, trust that there is an array of areas that need to be renovated before you can list your home for sale.

Remember that your prospective homebuyer will be keen to check those areas before deciding whether to invest his or her hard-earned money in your home or not. If you renovate such places, trust that you will be able to sell your home sooner than you expect.


3. It is not the right market and timing for your situation

When it comes to selling one’s home, there are two markets that play a major role. To start with, the time of the year you want to sell your home will influence how fast you sell your home. For instance, early spring is when most homes sell faster. This means that you should consider listing your home from the end of February.  Suppose you list it in late spring, be sure that the market will start flooding, thereby hindering you from selling your home fast.  It all depends on what the supply is like at other times of the year.  You need to analyze what the supply is like at that time, and this will dictate if you are selling at the right time. 

Additionally, if you list your home in a buyer’s market, it might take several months before you can get a prospective customer. Instead, consider listing your home in a seller’s market, as there will be many buyers who are willing to purchase your home, and few options will be available to them.  You need to be cautioned as if you sell in a sellers’ market you may get top dollar but you will also be paying a premium for your new home.


4. You are not marketing your home in the right place

When it comes to marketing your home for sale, there are several options that can help you get started. To start with, you can choose to hire a full-time professional realtor to help you sell your home. Also, you can post it online on social media platforms such as Facebook for sale.

Since most homebuyers use their phones to search for homes to purchase, there is a need for you to post your home online. If your home cannot be found online, selling it can be a nightmare for you. Such can be the case if you deal with realtors who are resistant to tech-based marketing.


5. Your listing photos are not of high quality

Although you might spend several dollars on staging and improving the curb appeal of your home, if the listing photos are of low quality, be sure that few buyers will be interested in purchasing your property. Ideally, the listing photos should resemble those of magazine quality. The clearer your photos are, the higher your chances of selling your home fast.


Conclusion

From how you price your property to the kind of listing photos you post online, there is an avalanche of factors that can affect how soon you sell your home. To be on the safe side, ensure that you set the right asking price, post your home online for sale, remodel your home, choose the right market for your home, and also post high-quality listing photos online. By doing so, you will be able to sell your home fast. Consequently, you will be able to meet other financial needs sooner, too.


 


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Pileggi Real Estate Team - eXp Realty
Tom Pileggi, Broker
P.O. Box 1665
Holland Landing, ON L9N 1P2
416-917-6566

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