Odds of Selling Your Home in Phoenix Arizona
You’ve heard they hype, the media stories about how the housing market is finally starting to improve and you are considering putting your home on the market. But is it really time to put your home on the market and if it is, how long will it take you to sell? 
First, you will need to determine if you can sell your property out right or will you have to get lender approval to sell your property for less than what is owed. If you are in a situation similar to thousands of other valley home owners, it’s important that you talk to a qualified tax advisor before listing your home. THEN it is equally important that you find a qualified realtor who has been trained to work short sale transactions. Most realtors today will tell you that they can work a short sale, but my experience is that in fact few are equiped to close the deal….but that is a topic for another blog!
So now you are ready to list….how long will you have to wait for the right buyer to walk through the door? Like anything else in real estate, everything is relative. Some homes will sell quicker than others, but based on numbers alone……the “average” home in metro Phoenix should sell within 90-180 days. But what is average? Again, that’s relative and to help you see where your home might fall within the continuim I’ve created the following graph…..
| Active | Buyers | 30 Days | Buyers | 90 Days | Buyers | 180 Days | Buyers | 1 Yr | |
| 0-$99,999 | 3614 | 827 | 23% | 2778 | 77% | 5025 | 139% | 14752 | 408% |
| $100,000 – $199,999 | 2774 | 355 | 13% | 1313 | 47% | 2483 | 90% | 6107 | 220% |
| $200,000 – $299,999 | 1216 | 144 | 12% | 523 | 43% | 1013 | 83% | 2588 | 213% |
| $300,000 – $399,999 | 616 | 33 | 5% | 203 | 33% | 368 | 60% | 977 | 159% |
| $400,000 – $499,999 | 317 | 31 | 10% | 86 | 27% | 158 | 50% | 426 | 134% |
| $500,000 – $599,999 | 199 | 4 | 2% | 29 | 15% | 68 | 34% | 176 | 88% |
| $600,000 – $699,999 | 150 | 4 | 3% | 24 | 16% | 40 | 27% | 86 | 57% |
| $700,000 – $799,999 | 85 | 4 | 5% | 20 | 24% | 34 | 40% | 65 | 76% |
| $800,000 – $899,999 | 68 | 1 | 1% | 4 | 6% | 11 | 16% | 36 | 53% |
| $900,000 – $999,999 | 46 | 1 | 0% | 6 | 13% | 9 | 20% | 20 | 43% |
| $1,000,000 – $1,999,999 | 168 | 4 | 2% | 15 | 9% | 28 | 17% | 70 | 42% |
| $2,000,000 – $2,999,999 | 39 | 0 | 0% | 1 | 3% | 1 | 3% | 3 | 8% |
| $3,000,000 – $3,999,999 | 12 | 0 | 0% | 0 | 0% | 1 | 8% | 2 | 17% |
| $4,000,000 – $4,999,999 | 3 | 0 | 0% | 0 | 0% | 0 | 0% | 1 | 33% |
| $5,000,000 – $99,999,999 | 7 | 0 | 0% | 0 | 0% | 0 | 0% | 0 | 0% |
The graph has been broken down by price range on the left and the number of active listings currently on the market in those price bands. The column labeled Buyers represents the number of buyers who successfully closed on properties during the past 30 days, 90 days, 180 days, and past year. The percentages represent your chance of selling your home during that time frame……ie: 30 days, 90 days, 180 days or 1 year.
So if you have a $250,000 home, your chances of selling it within 30 days is approximately 12% and you have a 83% of selling it within 6 months. 
If you have a home worth half a million dollars, you should be prepared to have your home listed for a year or more with homes priced between $500,000 and $599,999 only having a 88% chance of selling within 365 days!
Obviously this graph is just a representation of what is happening in the market but it should provide some insight. Homes are moving……but that then begs the question…why are some homes selling and others are languishing on the market? Obviously there are things such as condition, location, etc., that have to be taken into account but another issue…..how is your realtor marketing your property?
Many realtors merely register their listings on MLS, then sit back and wait 
In stark contrast, the Phoenix Real Estate Source takes a pro-active approach to listing properties. According to Realtor.com and other online marketing sources, 90% of buyers start their home search on the internet. 
The Phoenix Real Estate Source and the KUHL team have positioned themselves in such a way as to provide clients with maximum exposure through featured listings on Realtor.com, property specific webpages, and targeted emailing lists not mention traditional means of marketing such as broker open houses and public open house events that feature your property at it’s finest.
If you are thinking about selling your home, give us a call at 623-256-7270.
Let’s BEAT THE ODDS and get your home SOLD!
For numbers on other metro area cities such as Peoria, Glendale, Surprise, and the Sun Citites….visit our Facebook page at http://www.facebook.com/home.php?#!/pages/Phoenix-Real-Estate-Source/200947187280?ref=ts and become a fan!
Read Full Post | Make a Comment ( 1 so far )
