So far in 2023, in Philadelphia the housing market is moving from a seller’s market toward a buyer’s market. According to Rocket Home’s monthly report on the housing market (Note: You can check the current market indicators for Philadelphia by clicking here). In fact, in the last year homes have been staying on the market longer each month. The current average for a home being on the market in Philadelphia is over two months.
You are not alone if you aren’t seeing your home sell as quickly as you’d like. According to a new survey from Zillow, the once-hot real estate market has cooled off to the point where the median time for properties to be on the market has increased by 45 percent since last year. The information also showed that nearly half (46%) of all listings are sitting on the market for more than 60 days. It will take more than just a “For Sale” sign in the yard to generate interest when demand declines, therefore it is once again up to the sellers to court potential purchasers.
Older Homes Or Homes In Poor Condition Can Still Be Sold But Waiting Can Be Expensive
Theoretically, we can assume that the houses that are moving more quickly are houses that are more sales ready and in demand with buyers. Houses that may be older, out of date, in need of repair, or in less desirable areas, are likely to stay on the market for even longer periods of time. There are certainly mistakes to avoid when selling your home and ways to make wise choices about selling your home.
Waiting on your home to sell is never enjoyable and in fact it can be more expensive. When you consider a mortgage payment, insurance, taxes, etc. A home that is not selling can quickly become a problem. If the home is vacant, this can also cause many problems for owners.
Help, My Home Won’t Sell. What Can I Do To Speed Things Up?
Fortunately, there are a number of methods to increase the appeal of your room and the value of your home, beginning with these three statistically proven improvements.
Adding Technology and Specialty Amenities
It is documented that listings with eco-friendly and energy-efficient features can help a home go off the market 10 days quicker than anticipated thanks to additional study by Zillow. You can add some energy features or trendy options that can spark an interest in buyers. Some potential options that may particularly interest younger buyers are features such as:
- Broadband Internet Connections
- Electric Vehicle Charging Port
- Programable Thermostats
- Smart Lights
- Meditation Room
- Man Cave
- Energy Efficient Smart TVs That You Can Leave
Speed Things Up And Potentially Increase Your Asking Price With Staging
According to research from Realtor.com, homes that receive some professional cleaning sell 88 percent quicker and 20 percent more than those that don’t. According to seasoned stager and designer Kirsten Blazek, some of the simplest adjustments include adding a few statement rugs, removing super-personal items, and unmounting TVs. As a result, you might want to put your summer vacation pictures away until you move into your new house.
Speed the Sale of Your Home With Low-Cost Updates For Your Home
- Paint: A fresh coat of paint can work wonders in making your home feel newer and more appealing. Choose neutral colors that will appeal to a broad range of buyers.
- Declutter and clean: Before listing your home, decluttering and deep cleaning can help make your home feel more spacious and inviting. Remove personal items, excess furniture, and unnecessary decor to create an open and inviting space.
- Lighting: Good lighting can make a big difference in how a room feels. Make sure all light fixtures are working and consider adding additional lighting in dimly lit areas.
- Curb appeal: First impressions matter, so make sure your home’s exterior is well-maintained and appealing. This can include simple upgrades like adding potted plants, repainting the front door, and ensuring the yard is tidy.
- Kitchen and bathroom updates: These rooms can be the biggest selling points in a home, so consider making small upgrades like replacing hardware, painting cabinets, or updating fixtures to make them feel more modern and appealing.
- Small repairs: Addressing small repairs like leaky faucets or squeaky doors can help make your home feel well-maintained and move-in ready.
As A Last Resort, Bake Bread Not Cookies!
It appears that making a batch of cookies right before an open house is no longer the secret to convincing guests that your home might feel like their home. It would be better to stay away from sweets, says Domino. A survey of 1,500 respondents found that nearly 40% said they would be more likely to make a purchase if the air was filled with the aroma of freshly baked bread. Other top contenders for a “Sold” sign included freshly made coffee and clean clothing.
Consider Selling Your Home In A Week To A Professional Home Buyer
A professional home buying company like 717 Home Buyers will make you a cash offer on your property in Philadelphia or other cities in Pennsylvania. You can simply walk away from the burden of selling your home, making updates, or even baking bread. We would be pleased to give you a no-obligation cash offer right now if you are prepared to sell your property and put the trouble behind you. In Pennsylvania, we buy houses “as is,” and we would be delighted to assist you as well!
You can learn more about how our process works by clicking here. You can read our Google reviews by clicking here or watch some videos of satisfied clients here. If you would like to talk more to one of our friendly professional experts, Call us at 717-639-2164 today. We can give you a no-obligation quote usually within 24 hours. If you accept the offer, we can close the sale and give you cash within just as little as one week. There are no fees, commissions, or closing costs. We hope the best for you. Let us know if you feel we can be of help. Tweet
About Josh Eberly
A native of Lancaster County, Josh’s roots run deep in his commitment to this community. He especially enjoys helping people find solutions through real estate. Josh is a seasoned investor with experience in many sides of buying and investing in real estate. Josh enjoys reading, listening to podcasts, digital marketing, and hanging out with his family.