How long will it take for my home to sell?

There are many variables that come into play when considering how long it will take for your home to sell–what Agents call Days on Market (DOM). (Dom, lower case, is also the champagne of choice for agents when celebrating their closings.)

Many of these factors can be calculated and averaged out based on prior home sales.

You might think that it would take longer to sell a more expensive home. Generally, this is true. But in looking at some recent data from Area 22 in Henrico, VA, we see a very customized picture. Some houses that were listed for over $800,000.00 took over 150 days to sell; some took less than a week.

When considering how long it will take for your home to sell, you have to evaluate the current market conditions. You have to look at data within the past six months, as an appraiser would do.

Take a look at the chart below and you will get an idea of the six month period from December 1, 2011 to May 31, 2012 in Area 22 in Henrico, VA.area-22-last-six-months-whats-sold

This kind of analysis can put you on the right path to closing. Of course, you would need to have a much more specific analysis completed. A more specific search would include other variables that are pertinent to your home. This is the type of analysis that we do on a daily basis. Feel free to contact us for more information.