How Long Will It Take to Sell My Smith Lake Home?

    How Long Will It Take to Sell My Smith Lake Home?

    Oct 23, 2017

    How Long Do You Want It To Take

    

    Your Smith Lake home can sell quickly. It all depends on the critical decisions made on the listing price.

    Here's a few statistics on the Market

    • Through August 31st there were 244 active homes on the market on Smith Lake.

    • Under $200K 29 Homes
    • $200K - $300K 43 Homes
    • $300K - $400K 47 Homes
    • $400K - $500K 38 Homes
    • $500K and Above 87 Homes

    You can see that the crowd is hanging out in the $500K and above and many of them are overpriced. Take a look at how many of those Distinctive Homes have sold year to date compared to the current inventory.

    • Here's what has sold year to date 2017

    • Under $200K 32 Homes
    • $200K - $300K 36 Homes
    • $300K - $400K 33 Homes
    • $400K - $500K 25 Homes
    • $500K and Above 20 Homes

    The average Days On the Market are 184 and that is down from 219 at mid year. This doesn't include the data for homes that were cancelled and re-listed starting a new clock to day one. Some Smith Lake homes get relisted through several listing cycles for various reasons.

    So the answers started out with "It all depends on the critical decisions that are made on the listing price.

    1. You can choose to price it to the market, a statistical evidenced based price that uses:
    • Market Conditions
    • Prior Sales of Comparable Homes
    • Outstanding Features
    • Location
    • Condition of the Home

    2. You can choose to pick a price that represents either:

    • a number that nets you a "must have" amount of $s. In this case sellers may be handcuffed due to paying too much for the home when they bought it, may have re-financed for improvements, etc.

    Or

    • a number that is inflated based on your location and personal beliefs on features or condition of the home.

    Your Agent can be important help for you here. Unfortunately some agents mail it in here for fear of losing the listing. You may be told what you want to hear, about any number you throw out. It's an easy way for the agent to win the listing agreement. They then use the "3 Ps" to market your home. Put out a sign, Put it in the MLS and Pray that it sells. What happens then is the seller simply rides the market down 180+ days with price cut after price cut, to a price it should have been listed and marketed for to begin with. This strategy results in You the seller not getting where You want to go, when You want to be there. You get the same money as you would have if Priced Right in the beginning and sadly the closing becomes a "good riddance" celebration.

    The answer to the original question, "How Long Will It Take to Sell My Smith Lake Home?" is a long time, unless you select the right agent.

    Do you really need and want it to sell..........

    Remember this:

    Priced Right and Dressed Right and It's Ready to Sell! It simply works and the reason ERA Byars homes sell quicker.

    If you want a free Home Price Analysis or to list with an agent that will work harder for you than most - Call Me!

    Ed Wentz - ERA Byars Realty - 205-566-7214

    ERA Certified Distinctive Home Agent