How Long Does It Take to Sell a House? (2024) (2024)

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How is the market shift affecting days on market?

It can take an average of 50 to 100 days to sell a house in today’s single-family home market — and sometimes longer, depending on where you live.

This increase in time on market can be attributed to a sharp rise in mortgage rates, which began in mid-2022. Mortgage rates remain elevated, reducing the number of buyers who are able or willing to purchase a home.

Pending home sales, a measure of contracts signed but not yet closed, increased by 1.1% in September 2023.

Historical data indicates that how fast homes sell is highly dependent on seasonality. For example, homes listed in April and May have historically sold 20-30 days faster compared to homes listed in January:

For perspective, while the market has slowed from its white-hot conditions seen from mid-2020 through mid-2022, the latest number marks a return to something closer to historical averages. NAR reported average days on market in July 2011 was 98 days, and in 2012, it was 68, which seemed quick, following the housing crisis of the previous decade.

Remember, available days on market and time to close data represent averages taken from large groups of home sales. Some lenders may be able to close faster, in as little as 30 days.

Large lenders typically have a lot more internal red tape to deal with before they can fund a loan and write a check. On the other hand, smaller local lenders often have shorter closing times because they tend to be nimbler and more adept at navigating the quirks of their local market.

How long does it take to prep the home?

Pennie Carroll, a top real estate agent in Des Moines, Iowa, says the amount of time it takes to prepare a house for sale varies based on how much work and maintenance the homeowner has done in the past. Still, she estimates an average of about a month to get the house ready.

“The process usually starts with the agent coming to the house and providing guidance on what needs to be done — and, more importantly, what doesn’t need to be done,” she says.

“Sometimes sellers can waste time on things that aren’t necessary or won’t do anything to help speed up the sale.”

“I can have a house staged, photographed, and listed within 48 hours,” says Jamie McMartin, a HomeLight Elite Agent and top-selling real estate agent in the Houston metro area. “But typically, it’s a three-to five-day process.”

McMartin walks us through how she accelerates the selling timeline when appropriate:

How can I sell my house faster?

Whether you’re in a financial predicament or need to relocate for work, working with a cash buyer quickly is an excellent strategy if you need to sell your house fast.

If you request an offer from an iBuyer company or house-buying company without putting your house on the market, you can expect to receive an offer in as little as 48 hours and close in as few as one to three weeks.

Since cash buyers prefer to purchase properties “as is,” sellers can also lop off any time they usually would have spent on listing preparations.

Cash also eliminates any lender involvement, cutting out the lender-ordered appraisal and creating a more straightforward path to settlement.

See how the main aspects of the timeline compare below:

Interested to request a cash offer? Consider starting with HomeLight’s Simple Sale platform, which provides cash offers for homes in almost any condition nationwide. Sellers can receive an offer in as few as 24 hours and close in as little as 10 days. No staging. No showings. No open houses.

One thing to remember is that the offer received from a direct buyer is likely to be less than market value, and sometimes significantly so. So, you have to weigh a faster sale against a potentially lower offer amount.

What factors impact how long it takes to sell a house?

Several variables, including where you live, supply and demand, buyer preferences, seasonality, and property condition, can impact how long it takes to sell a house. Let’s take a closer look at some of the top factors below.

Location

Although national metrics provide a broad indication of how the housing market is performing and whether it’s in or out of balance, real estate varies at a local level depending on supply and demand, housing needs for the area, resident income, net population influx or outflow, and employment opportunities to name only a few factors.

Below, we’ve rounded up time to contract data from MLSs for 5 major metropolitan markets so you can get a sense of the variance.

Market trends

When you have a high supply of homes for sale and fewer buyers, houses generally take longer to sell as buyers can be more choosy and aren’t under pressure to make quick offers. The opposite is true when inventory is low, and there are more buyers than homes to select from.

The situation now is somewhere in the middle, where housing supply and buyer demand are suppressed. Looking at national averages, inventory remains historically low, but at the same time, buyer demand has been reduced from 12 months ago.

As of October 2023, the inventory of unsold existing homes is calculated to take 3.6 months to sell, according to the National Association of Realtors. For reference, 6 months of supply is considered a balanced market. In comparison, a 2-month supply of homes is considered a deficit, making it a seller’s market.

Check your local Realtor® board website for data on current supply levels, local home prices, and days on market trends to give you a more precise gauge of market temperature for your area.

Your real estate agent

Who you select as your real estate agent can play a significant role in how fast your house sells. What you want to look at is the agent’s personal DOM. If an agent’s average DOM is lower than average, it’s a good sign that they price homes correctly to attract quick offers and come out of the gate with a strong marketing plan for their listings.

HomeLight’s agent platform tracks average DOM and how agents in your area stack up against their peers. Check your agent’s HomeLight profile to see their average days on market and how it compares.

Your home’s condition

“To create that buzz among buyers, we make sure the property is decluttered and staged correctly so that the listing photos draw in the offers and the right buyers,” McMartin says.

If your home is overdue for repairs or renovations, the lack of maintenance can encourage lowball offers or deter buyers looking for a move-in-ready residence.

If the inspection uncovers serious safety issues or problems with the home that could negatively impact its value, it could lead to price negotiations or delays.

Seasonal factors

Timing your property to debut on the market during peak seasons will likely get your home in front of the right buyers faster.

“When kids are in school, our market is usually ready to go roaring,” explains McMartin. Conversely, “When kids are on winter holiday breaks, we’re really pretty slow because the parents are trying to make sure they have fun and family time.”

This can vary significantly by region, however.

McMartin says the Houston-Galveston market also sees increased demand for homes with pools from January through September and an uptick in the search for vacation and Airbnb homes in Galveston from February through October.

“Since it takes 30 days to close on the property, people begin looking in January because they want to be able to move in and enjoy the properties,” she says.

“In warm months, those properties tend to sell quicker and for a lot more.”

What is the best month to sell a house?

Nationally, the best month to sell a house quickly is April, according to HomeLight’s Best Time to Sell Calculator. Homes listed in April typically sell five days sooner than in other months, on average

The best time to sell a house for the highest dollar amount is March when homes sell for 2.2% more than the yearly average.

However, due to the seasonal factors discussed above, the best time to sell a house will differ from market to market.

Source: HomeLight’s Best Time to Sell Calculator

What can I do to sell my house more quickly?

While you might not be able to control things like the weather, a buyer’s financial situation, or the state of the market, there are some actions you can take to help accelerate the sale.

Take care of routine maintenance and simple repairs.

Here are some of the typical pre-listing preparations you can get started on right away: