What is a sellers market? A sellers market is a situation where a small number of homes for sale are available, and there is a lack of sufficient inventory for the demand. In a sellers market, homes sell quickly and for top dollar. However, if you recently listed your home, the number of home sales has declined in the last month and the number of pending sales has dropped 17% since this time last year. That means that there are less buyers in the market shopping.
Prices have shot up 12% since last year, and although that price increase is good for your pocket book, it does price many buyers out of the market. Lack of buyers for your home could be one of the reasons the property hasn’t gotten an offer yet. Here are other reasons your house is still on the market:
Pricing is the number one reason your home could not be selling. Rather than overpricing your home, it is ideal to know how much your home is really worth. You can receive a free evaluation from me on realorlandohomevalue.com.
2. Lack of Marketing
Marketing is a key component in selling your home. In 2014, approximately 43 percent of home buyers search photos on websites to showcase your home. (1) It takes a few seconds to make a great first impression, and if the photos of the home are uninviting, the home will have a more difficult time selling. Removing clutter, adjusting the lighting, and removing cars and pets in photos are a few suggestions to make your photos presentable.
3. Doesn’t Show Well
Does your home need repairs, but you are hesitant on renovating it? We recommend to follow through with making repairs and updates that will make your home stand out from its competitors. Updating the wall paint, replacing the carpet, and checking the curb appeal are just a few steps to getting your home sold in a timely manner!
4. Not Easy to Show
Do not be a seller that has strict requirements for showing a home. Sometimes a seller wants a 24 hour notice, requires an appointment only, or insists on being present when a buyer wants to see the house. It is practical to have the house show ready each morning and have an agent provide an electronic lockbox so that buyers agents can come and show with minimal notice.
Ready to sell your home? Connect with Kathryn Stelljes at firstname.lastname@example.org | 407-494-2820 for more information on how to sell your home in the Orlando sellers market.
(1) Data provided by National Association of Realtors Real Estate in Digital Age report