There is no exact answer to this but in general we see the long-term average for selling days is around 44 for an established home but there can be a large variance. For example, around 30 per cent of homes sell within 20 days while around 15 per cent take up to 80 days.
Most sellers want to be in the target range for a quick sale and this usually comes down to two key factors: setting the right price and promoting the property successfully.
Sellers are strongly advised to discuss this with their listing agent and to trust in their selling experience and knowledge of the local market.
Even so there can be homes that take unusually long periods of time to sell irrespective of market conditions. In most cases this will be because they are over-priced or poorly marketed.
Properties like this which linger on the market make potential buyers suspicious and they will bypass it.
The lesson from the data on average selling time is that the best chance sellers have comes within the first few weeks of the campaign. Most keen buyers notice a new listing right away but need a couple of weeks to properly consider a purchase.
This is why it’s terribly important that your home is priced correctly from the start. This cannot be overstated because today’s buyers have access to a lot of online data to inform themselves about market values.
It’s also crucial that the property is looking good and in its best condition.
Don’t wait for the agent to tell you that some potential buyers were critical of a few things here and there during a home open, when you as the seller could have fixed these things before the inspection.
Just tidying up a messy backyard and touching up some tired paintwork can be important.
Attention to detail will maximize your chances of being among the one third of Australians who can sell their homes within 20 days.