4 Ways to Tell How Fast Your Home Will Sell
4 Ways to Tell How Fast Your Home Will Sell | Zillow Blog
Its not just location, location, location although location is certainly important. Lots of other factors makeone house hot and another one not.
Here are data-driven pointers fromZillow Researchthat help identify which homes are likely tofly off the market (in 60 days or less):
Keep calm and price it right.The housing market is improving, but take care not to overheat your listing price.Homespricedmore than 12 percent above their Zestimate home values are almost half as likely to sell in 60 days asthose priced closer to their estimated values.The sweet spot is between the Zestimate and six percent above it a range where homes sell about as quickly as those priced below their Zestimates.Take a picture, but not too many.The optimal number of listing photos is 16 to 21, but its better to have too many than too few. Having fewer than nine photos lowers your chances of selling in 60 days by two percentage points.Size matters.As a rule, smaller homes (under 1,100 square feet nationally) sell the fastest about ninepercentage points faster than the largest homes in a 60-day window but that doesnt hold true for all markets. In San Francisco and Indianapolis, for example, small homes take the longest to sell.Get the word out. Page views onZilloware a strong indicator of how quickly a home will sell. Listings with 280 or more page views in the first week were three times as likely to sell in 60 days as those with fewer than 100 views. Thats powerful incentive to make sure your agent spreads the word early by posting your listing online.
Learn more aboutthese data using an interactive graphics tool at Zillow Research.
The data are based on homes listed for sale for at least one week (unless it went pending in less than a week) during the fourth quarter 2014 that sold before March 31, 2015.
About the AuthorMelissa Allison
Melissa Allison writes about real estate transactions and trends for Zillow Blog.
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