Why Days On The Market Matter When Selling Your Knoxville Home

Days matter when it comes to selling your Knoxville home. This is why it is important that your home is priced competitively and ready to sell from day one that it hits the market. Not only will this strategy help sell your home fast, it will help you get the best price possible for your home.

The reality is that the longer your home sits on the market, the harder it is to sell. Here is why days on the market matter when it comes to selling your Knoxville home.

The Clock Starts Instantly

Once your Knoxville home for sale is listed up on the MLS, the clock starts ticking instantly. Your new listing will immediately show up under new listings on the MLS, making it immediately available to agents and buyers. With the Knoxville real estate market facing low inventory in certain price ranges, hungry buyers are just waiting for new listings to pop up.

Many local MLS sights also have arrangements that their listing data is shared sites like Trulia, Zillow, and Realtor.com.  These sites vary on how quickly new homes show up, but they’re still updated enough that new buyer are finding your home within hours of it being listed.

Average Days On The Market

Prior to listing your home, it’s important to have an understanding of how long it’s taking homes in your price range and area to sell. Your realtor will be able to provide you with this information as to what is the average days on the market for your type of listing.

In the current market, if a home is priced well and presented well, it should sell within that timeframe. If a home isn’t well kept or if it’s overprice, it will take longer to sell. And, the longer your home sits on the market, the harder it will be to sell.

New Listings Are A Hot Commodity

Buyers gravitate towards new listings. If a buyer has been out looking at homes for a few weeks or months, they’re likely seen all of the listings out there that meet they’re search criteria, except for of course the new ones. This is why new listings matter. If you’re able to present a buyer with a new home on the market that is priced fairly and in great condition, you’re inevitably going to attract buyers.

This is why a new home on the market tends to get a flurry of showings in the first week or so. Unfortunately, if your home is overpriced or not in great condition, you’ll most likely not benefit from the flurry of showings when your home hits the market.

Unfortunately, your home will only be a hot commodity for so long. As the days wear on, the showings will quickly trickle off. As the days continue on, buyers will wonder why your home is still on the market and what may be wrong with it. This is why days on the market matter.

If your home has been on the market for a month or two, your home has likely not sold for one of three reasons, the price, the condition, or the location. You can’t change a home’s location and you can only improve your home’s condition by dumping money into the house. So, ultimately, in order to make a house move, you’re best option is to drop the price.

Bottom Line – Days Matter

Whether you need to sell your home quickly or you feel like you have some time to wait it out, days on the market matter. It’s something that other agents and buyers look at when your house has been on the market for days. The longer it has been there, the more of a hit your home will take because you’ll most likely have to drop the price to get it to sell or accept a low offer.

Are you thinking about selling your Knoxville home this year? If so, do not hesitate to give us a call. Rick can be reached at 865-696-9002 or via email at [email protected]. Kati can be reached at 865-696-1888 or via email at [email protected].