How Fast is Fast in Real Estate? What Is a Quick Sale?
- Published on
- 9 min read
-
Richard Haddad Executive EditorClose
Richard Haddad Executive EditorRichard Haddad is the executive editor of HomeLight.com. He works with an experienced content team that oversees the company’s blog featuring in-depth articles about the home buying and selling process, homeownership news, home care and design tips, and related real estate trends. Previously, he served as an editor and content producer for World Company, Gannett, and Western News & Info, where he also served as news director and director of internet operations.
If you’re planning to sell your home, you’re likely framing up a timeline that may include moving into your new house, starting a new job, or making arrangements for storage or temporary housing.
If you’re facing a financial or logistical deadline, you’ll want to find a buyer quickly. But what is a quick sale? Is it two weeks or two months?
In this post, we’ll provide context into what might be considered a quick sale and what you can do to speed up the process. Throughout our guide, we’ll insert links so you can explore each speed-boost tip in more detail.
Sell Your House Fast With an All-Cash Offer
Get an all-cash, no-obligation offer in 24 hours through HomeLight’s Simple Sale platform. Sell your home for a competitive price in as few as 10 days, with no additional fees, agent commission, or prep work.
What factors influence a quick home sale?
Let’s look at the key factors that will play a role in whether you can capture a quick home sale. In most cases, it all starts with what’s happening on the ground with buyers and sellers.
Local and national market conditions
Market conditions play a significant role in how fast homes sell. In a seller’s market, where demand outpaces supply, homes tend to move more quickly. Conversely, a buyer’s market, with more inventory than buyers, can slow things down. The speed and activity in a market can vary from state to state and even from city to city.
Your home’s price
Pricing your home competitively is one of the biggest keys to securing a quick sale in any market. Homes that are priced too high may linger in the “no-offers” zone, while those priced appropriately often attract more interest and faster offers. To get a ballpark idea of what your home might be worth, try HomeLight’s free Home Value Estimator.
Your home’s location
Homes in desirable locations — whether due to school districts, proximity to amenities, or neighborhood appeal — often sell faster than those in less sought-after areas. There are even websites dedicated to tracking walk scores that rank how strategically placed a home is for walking, driving, and transit services.
Your home’s condition
A home that’s move-in ready will generally sell faster than one requiring significant repairs or updates. Clean, well-maintained properties attract buyers looking for convenience. While there are ways to sell a home in poor condition, such properties generally don’t sell quickly. A top real estate agent will know what to fix and what not to fix.
The skill and experience of your agent
An experienced real estate agent knows how to position your home in the market to attract serious buyers quickly. Their network and marketing strategies can make a huge difference in reducing the number of days your home is on the market. HomeLight transaction data shows that top agents sell homes faster and for more money than average agents. In most cases, up to 10% more.
Buyer’s method of payment
Cash buyers typically close more quickly since they don’t have to go through the mortgage approval process. This can shorten the time from offer to closing by several weeks.
Absence of contingencies
When a buyer doesn’t request contingencies such as inspections or appraisals, the closing process moves faster. A clean offer can significantly streamline your home sale transaction.
Your home selling goals
Your timeline and priorities will impact how quickly your home sells. If you’re willing to negotiate or offer incentives, you can speed up the process. We’ll share some seller incentive ideas in an upcoming section.
Your selling method
Opting for a cash sale to a house-buying company can result in one of the fastest sales possible. These transactions often bypass many of the traditional steps, closing in just days or weeks. However, there is a financial tradeoff as these companies typically make lower offers than traditional home buyers.
What is a quick sale?
In real estate, a quick sale is often measured by the metric known as Days on Market (DOM). This refers to the number of days a home is listed before a signed purchase contract is secured.
The median DOM in the United States typically hovers around 40 to 60 days, though this varies based on location. For example, in Manchester, New Hampshire, homes are currently getting a signed contract in just 9 days, while in slower markets like Austin, Texas, and New Orleans, Louisiana, the DOM may extend to 70 to 80 days or more. Data websites like Statista track metro markets where homes are selling the fastest and slowest.
It’s important to note that the DOM generally only accounts for the time until the contract is signed. Sellers also need to consider the time it takes for the buyer to close, particularly if they’re financing the purchase. ICE Mortgage Technology reports that the average time to close on a mortgage is currently around 43 days.
What can sellers do for a quick sale?
If you’re aiming for a fast sale, certain steps can help you attract buyers and streamline the selling process. Below are tips used by top real estate agents to improve the chances of selling your home quickly without sacrificing value.
Boost your property’s curb appeal
First impressions matter. An experienced agent will tell you to never underestimate the power of curb appeal. Enhancing your home’s exterior with landscaping, fresh paint, or a new front door can immediately attract potential buyers. A well-kept yard and exterior signal that the property is cared for, encouraging buyers to explore the rest of the home.
Declutter and depersonalize the home
Buyers need to envision themselves living in your space, which can be difficult if it’s filled with personal items and clutter. Removing family photos, personal decor, and excessive furniture creates a neutral environment that appeals to a broader audience.
Prepare a turnkey home
The less work a buyer has to do, the faster your home will sell. Address minor repairs, update outdated fixtures, and ensure everything is in working order before listing. A turnkey property can make a buyer feel confident in making an offer quickly.
Stage the home
Staging allows buyers to see the potential of your space. Professional staging can make rooms appear larger, highlight key features, and create an inviting atmosphere that encourages faster offers. In addition, according to a recent HomeLight survey of more than 1,000 top agents, a well-staged home can sell for up to 13% more than an unstaged home.
Invest in professional photos
High-quality photos are essential in today’s real estate market. Professional photography can showcase your home’s best features, attracting more buyers to your listing and increasing the likelihood of quick offers. Some top agents refer to the listing photos as “online curb appeal.”
Provide a virtual tour
With more buyers beginning their home search online, offering a virtual tour can speed up the sale process. With an online tour, home shoppers can walk through your home the moment they see your listing, expanding your potential buyer pool.
Price competitively to attract quick offers
As noted in our selling factor list, pricing your home competitively from the start is key to drawing serious buyers. Work with your real estate agent to set a price that reflects current market conditions, encouraging offers without leaving money on the table.
Be flexible with showings and visits
Accommodating buyers’ schedules can make a big difference in the speed of your sale. Be prepared for last-minute showings and keep your home in showing-ready condition to maximize viewing opportunities.
Be willing to negotiate and compromise
To move the sale along, consider being open to negotiations on price, contingencies, or closing dates. Flexibility can help you secure a quicker sale without too many delays. Having a seasoned agent by your side can make a world of difference.
Provide a home warranty
Offering a home warranty can provide peace of mind to buyers, knowing that they’re protected from potential issues in the first year. This cherry-on-top added assurance can make your home more appealing to buyers on the fence.
Offer seller concessions or credits
Incentives like offering to cover closing costs or providing credits for repairs can sweeten the deal for buyers, speeding up the offer process. If your goal is to close quickly, consider offering concessions to motivate buyers to act fast.
A Buy Before You Sell program lets you move quickly
If you’re looking for a quick sale because you’re buying and selling a home at the same time, HomeLight’s innovative Buy Before You Sell program might be a solution. This modern program unlocks the equity in your current home so you can start making offers before you sell. You can make a stronger, non-contingent offer now on your new home and only move once.
Here’s how HomeLight Buy Before You Sell works:
Looking to Sell Fast? A Top Agent Can Help
Top real estate agents can help sell your home more quickly than average. HomeLight’s Agent Match platform can connect you with top agents in your area.
For super speed, request an all-cash offer
If you need to sell your home as quickly as possible, an all-cash offer could be the solution. Through HomeLight’s Simple Sale platform, you can receive a cash offer in 24 hours and close your sale in as little as 10 days.
Through Simple Sale, we partner with the largest network of cash buyers in the U.S. This option is ideal if you’re facing a time-sensitive situation, such as relocating for work or handling a family emergency, and need to move fast.
To receive a no-obligation cash offer, simply provide a few details about your home. If you accept the offer, you can skip the waiting game and get on with your next chapter — faster.
What is a quick sale? Ask a top agent
A top agent who knows your local market can guide you through the best strategies for a quick sale. They can help price your home to sell quickly, navigate buyer negotiations, and leverage their network to attract serious offers.
HomeLight can connect you with the best agents in your area, all with a proven track record of fast, successful sales. Reach out today and find an agent who knows how to sell your home quickly while maximizing your return.
Header Image Source: (lmphot/ Depositphotos)
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
