When you decide to list your home for sale, one of the most pressing questions in your mind is most likely “How Long Will It Take To Sell?”
While it is not possible accurately predict how long, it should not be too difficult to arrive at a reasonable estimate based on how quickly homes like yours have been selling recently.
It is generally thought that higher priced homes take longer to sell yet of all detached homes listed for sale from San Ramon to Walnut Creek in a recent 3 month period, those under $750,000 took a median time of 16 days to get a sale agreed. From $750,000 to $1 million, 13 days, and over $1 million, 14 days.
These are historically short periods in all price ranges and suggest that if your home is prepared and marketed for sale professionally and priced appropriately taking recent sales of similar homes into consideration, it should get a sale agreed in a similar length of time.
Conversely, if you have not had a sale agreed within say, 3 weeks, there is something that needs addressing. That is when it is time to sit down with your agent and decide what action should be taken.
Getting the sale agreed is only the first step in selling of course. Once your home is in escrow, the buyers will probably want to have a number of inspections carried out and unless it is a cash sale, it will take time for an appraisal and getting financing in place.
I should note that there are new regulations regarding home loans that came into play from October 2015 such that 30 day escrows or less will often become a thing of the past. Even when everything runs smoothly, a wise seller should anticipate a 40 to 45 day period when the home is in escrow.
So it really makes sense to plan for at least 60 days from listing your home for sale on the MLS to actually moving out.