How quickly will Your Home Sell

My sellers always ask. How quickly will my home sell? Hi I’m Kimberly ritter with homes by the ritter group at Carolina one real estate. The market climate will determine how quickly your home will sell. In a HOT market, there is limited inventory, meaning there are more buyers than homes to purchase, you can sell your home in a day (although I highly recommend allowing the home to have proper marketing time so that you can receive the most amount of offers with the best terms. If there are more homes on the market than buyers, then you can expect a little longer for the home to sell. We can discuss timing and how quickly we feel your home will sell when we meet with you. It’s really important to look at the absorption rate in determining timing. Absorption rate is a term most commonly used in the real estate market to evaluate the rate at which available homes are sold in a specific market during a given time period. It is calculated by dividing the average number of sales per month by the total number of available homes. In the Charleston area a “Sellers Market” would have an absorption rate that equals 1-4 months supply of inventory and a buyer’s market would have a supply of inventory of 6 plus months. Read below to see what to consider when pricing a home. I have sold hundreds of homes right here in the Charleston area so call us here at Homes by the ritter Group and we will let you know based on today’s climate how many homes are on the market and how many buyers that we are seeing and give you a really good estimate on how long it will take your home to sell.

How Quickly Will Your Home Sell?
Video Transcription

Kimberly Ritter: My sellers always ask, how quickly will my home sell? Hi, I’m Kimberly Ritter with Homes by the Ritter Group at Carolina One Real Estate. The market climate will determine how quickly your home will sell. In a hot market, there’s limited inventory, meaning there are more buyers than homes to purchase. You can sell your home in a day, although I highly recommend allowing the home to actually have proper marketing time, so that you can receive the most amount of offers with the best terms. If there are more homes on the market than there are buyers, then you can expect a little longer for the home to sell. We can discuss things and how quickly we feel your home will sell when we actually meet with you.

It’s really important to look at absorption rate in determining that, the timing. Absorption rate is a term most commonly used in the real estate market to evaluate the rate at which available homes are sold in a specific market during a given time period. It is calculated by dividing the average number of sales per month by the number of available homes. In the Charleston area, a sellers market would have an absorption rate that equals one to four months supply of inventory. A buyers market would have a supply of inventory of six plus months.

Here’s the thing about it, I have sold hundreds of homes right here in the Charleston area. Call us here at Homes by the Ritter Group at Carolina One Real Estate, and we will let you know based on today’s climate, how many homes are on the market, how many buyers are actually looking, and also to be able to give you a good estimate on how long it will take to sell your home.

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