Our Home Value Estimator can be a helpful tool for this task. To predict what buyers would pay, you need to carefully review recent sales and make dollar adjustments to your property based on competitive differences. How do you know if your home is priced too high? Pricing a home for sale is deceivingly complex. In a HomeLight survey of top real estate agents, 54% of agents have seen or heard about buyers backing out of contracts due to remorse about inflated home values. “And in fact, it’s usually always price.” When it comes to reasons a home isn’t selling, “If it’s not condition, it’s always price,” says Simpkins. After 120 days, the sale-to-list price ratio dropped to 97.6%. One Massachusetts Realtor’s analysis found homes that sold within 10 days went for 101.3% of their asking price. Generally, says Alisha Simpkins, a top-selling Chico, California, real estate agent, a home is “going to sell for the most amount of money in the first 30 days.”įor every day that your home doesn’t sell, it will, statistically, sell for less. Your days on market matters because the longer a house sits compared to other homes in your area, the more buyers - rightly or wrongly - will suspect something might be the matter. It’s frustrating to say the least, but you shouldn’t wait any longer to make some changes, especially if your home’s total days on market is more than a month. Here are 12 of the most common reasons why homes linger on the market, and what actions you can take. You haven’t received any offers and showing requests have been few and far between, leaving you to ask: Why isn’t my house selling? It’s not any seller’s dream scenario: you put your house on the market, hoping for a quick sale - but boy were you wrong.
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