How to sell a house quickly is a common concern for the majority of home sellers. On a national level, 30 to 45 days is the average time it takes to sell a home. However, the exact amount of time it takes to sell will depend on your own situation. For example, if you sell to a cash buyer, the transaction could be over as fast as a 7 to 14 days.
Other factors like location, home condition, and price all influence how long a home is on the market. In this post, our team at Your Home Sold Guaranteed Realty Elite - The Augustine Team will discuss the market conditions that impact home sellers as well as some tips on how to sell a house quickly.
- The fastest a house sale can go through nationally is 7 to 14 days. However, this is usually only the case for cash purchases. 30 to 45 days is more typical for the average sale.
- In hot markets like Hamilton, cash deals can potentially close in as little as 10 to 14 days due to high demand.
- It’s important for home sellers to understand the local housing market dynamics in their area as well as use several strategies to help facilitate a fast sale.
What’s The Fastest a House Sale Can Go Through in Canada?
After almost two years of overheated growth fueled by low interest rates and pandemic demand shifts, Canada’s housing market is experiencing a cool-down. In recent months, home sales fell by 5.6% month-over-month. Compared to the same point a year ago, home sales were just 0.9% higher overall.
In addition, inventory has been declining, with 2.3% fewer properties listed on the market in the past months. Despite the cooling in sales, home prices have risen slightly. Across Canada, the average sale price increased 1.8% year-over-year.
While sellers may benefit from relatively stable prices and less inventory, uncertainty persists around mortgage rates, inflation, and broader economic forces weighing on home buyers. This could mean that sellers might expect their homes to be on the market anywhere from a few weeks to a couple of months before selling.
What is the Market Like for Home Sellers in the Greater Hamilton Area?
Zooming into Southern Ontario’s real estate, the Hamilton area has its own distinct housing market conditions. Throughout the year, home sales have remained relatively stable while inventory has continued to rise. Coupled with declining home prices, this means Hamilton could be considered more of a buyer’s market.
The average sale price for a home in the city is $767,000, which is a 1.1% decrease compared to the previous month and a 2.8% decrease compared to the same point last year. In the past month, there have been 1,119 new listings added to the market and 328 home sales. On average, homes are spending 28 days on the market before selling.
6 Tips on How to Sell a House Quickly
It’s still possible to achieve a fast home sale despite tough market conditions. If you want to know how to sell a house quickly, you’ll need to work with your realtor to develop a combination of strategies to attract buyers. These methods include common home-selling best practices you’ll likely already be following, such as:
- Setting a Fair Price: Set a competitive and realistic asking price based on thorough market research. A well-priced home is more likely to capture the attention of potential buyers.
- Highlighting Unique Features: Showcase the distinctive features of your home or its location that set it apart from others in the market. Emphasizing these unique qualities can attract buyers looking for something special.
- Be Accessible for Showings: Flexible viewing schedules can accommodate potential buyers and increase the likelihood of a quick sale.
- Consider Selling for Cash: Cash transactions allow faster turnarounds since the buyer doesn’t need to apply for financing. Cash buyers are also usually more willing to accept a home in its current condition.
- Communicating with Buyers: Respond promptly to inquiries and maintain open communication with potential buyers and their representatives. A proactive approach can contribute to a smoother and faster sale.
- Being Open to Negotiation: Hone your negotiation skills to facilitate a swift and mutually beneficial agreement. Being flexible and accommodating during negotiations can expedite the closing process.
Selling Fast is Easy with Your Home Sold Guaranteed Realty Elite - The Augustine Team
Selling a house to sell fast is easy when you work with Steve Augustine and Your Home Sold Guaranteed Realty Elite - The Augustine Team. Our team has been working in Grimsby, Hamilton, and Burlington for years. During that time, we’ve developed a reputation as the best realtor in Grimsby, Burlington, Hamilton, Oakville and surrounding area due to our quick home sales.
Our selling speed is backed up by the data. On average, we sell homes three times faster than our competitors, and for 4.4% more profit. On top of that, we offer unique seller guarantees, such as our Guaranteed Sale Program.