Even if you are not necessarily considering putting a “for sale” sign in your yard tomorrow, it is a good idea to know what your Oroville home is worth and about how long it will take to sell your Oroville home when the time comes. While the timeline for selling a home varies from area to area, there are some universal factors that can either help a home sell faster or make a home sit on the market longer.
Below are factors that can help determine the amount of time an Oroville home takes to sell:
You have undoubtedly heard this saying many times over. But location is very important when it comes time to sell your Oroville home.
No matter what steps or improvements you make to update your Oroville home, the location can impact – either positively or negatively – the amount of time it takes for your home to sell. If you are in an unenviable neighborhood there is only so much you can do to entice a buyer to purchase your home.
The asking price you set for your home can also influence the amount of time spent on the market. Homes over $500,000 typically take longer to sell than homes under $300,000. The reason for this is straightforward: the pool of potential buyers is considerably smaller for homes over $500,000.
Another example of asking price impacting a home’s time on the market is an example of the least expensive home in a nice neighborhood. In situations like this, the home will probably sell faster than most other homes on the market.
While obvious, it is no less true: the number of homes on the market will influence the timeline to sell your Oroville home. When there is a larger inventory of homes available on the Oroville market (i.e. more competition), homes take longer to sell. And if you put your home on the Oroville market when there are few homes out there (i.e. when there is less competition), then your home is more likely to sell quickly.
In general, homes sell faster in the spring and summer months. While shopping for homes in the winter months in California is easier than doing so in the northeast, it is more about families being anxious to get settled prior to the school year beginning.
Homes in highly rated school districts are highly sought after. In some situations, families find themselves on waiting lists to get their kids into that school. Therefore, it goes without saying that your home will be more appealing to most families when it is within a highly rated school district.
While a number of these factors are outside of your control, there are some steps you can take to speed up the sale of your Oroville home.
Set a Competitive Asking Price
After you have run and researched the Oroville comps, you will have a good feel for the price range you could list your Oroville home for. Deciding to list your home at the lower end of the comps range can make it more likely that you sell your Oroville home faster. In some situations you might even start a bidding war which can result in selling at a price above your asking price.
Pay Attention to the Details
You will want to finish all of those little jobs and updates that have been needing to be done for years. Look for the things that are partially finished or in need of minor repair and take care of. Taking the time to update and repair the home before putting on the Oroville market is always a good idea.
Statistics show that a staged home sells much faster and often for more than an unstaged home, so you might consider paying $1500-2500 for this service.
When it comes time to sell your Oroville home, you want to make sure that you control those factors that are within your ability to do so. Not all the influences on what determines how quickly a home sells are within your grasp, but those that are should be leveraged.