Inventory is the most important factor driving seller's markets in the United States, and Texas is no exception. According to the Texas Real Estate Research Center, there is only a 1.7 month supply of housing available right now. Six months is considered a significant amount of inventory, so there is a real housing shortage in the Lone Star State. The national average time it takes to sell a home is 55 to 70 days, or approximately two months.
However, keep in mind that Texas is one of the main states where people are flocking to move to right now. What are the characteristics of a typical home sold in the U. S.? The escrow period varies depending on the sale. If you want detailed information about your specific area, visit Zillow Research Data and search for the “Pending Days” dataset for your area in the “Inventory and Sales” menu.
Alternatively, you can ask your real estate agent for their opinion, watch local news to learn about real estate trends, and keep an eye out for other announcements in your neighborhood. Do they arrive and leave the market quickly, or do they organize the same open day weekend after weekend?In the U. S., how long do you need to have your home for sale before signing a contract? If the average time a U. S.
home stays on the market is 25 days, excluding the standard closing of 30 to 45 days, that means your home could be on the market less than a month before you accept an offer. When you receive an offer, please respond as soon as possible. While the current rules regarding response times vary from state to state and from contract to contract, buyers who submit the offer usually include an expiration date 24, 48, or 72 hours after submitting it. Once again, it all depends on the contract between the buyer and the seller. Generally, the buyer has 5 to 10 days after accepting the offer to complete the home inspection. How long does a home inspection take? The process itself only takes a few hours, plus a day or two for the inspector to write his report.
Keep in mind that in fast-moving housing markets, buyers sometimes forego inspection to make their offer stand out among other offers. Based on the findings of the home inspection, buyers often submit a tight offer or request that repairs be completed. This renegotiation process usually takes 24 to 48 hours. We hope that, after the negotiations, you and the buyer have reached an agreement and the deal can continue. As mentioned above, the average time to close a house is 30 to 45 days from the date of mutual acceptance to the day the keys are handed over to the new owner.
This gives the purchaser's lender, title company, and county records department enough time to complete all necessary documentation. Buyers are wary of homes that have been on the market for a long time, especially those that remain pending and then return to the active market. Before your ad starts to gather dust, talk to your agent about creating a new strategy. If you don't receive any offers, or if you only receive offers well below the selling price, your list price may be too high. Pricing your home correctly is a bit of an art form, but there are tools to help you find the perfect number. One way to get a quick (and free) estimate of the value of a home is to check your home's Zestimate.
In addition, if you claim your home on Zillow and provide up-to-date information, you can influence your Zestimate for a more accurate home valuation price. There are a lot of things in your house that you can fix, but some can't be changed: proximity to neighbors or noise from roads 24 hours a day for example. You may have gotten used to these less-than-ideal conditions over time but buyers are noticing them too. Make sure your home is properly priced; if several expensive items need repair then your home will be more difficult to sell and you risk an offer falling through after inspection. There are some strategies you can consider such as addressing major repairs ahead of time or reducing price so buyers can make improvements themselves. How your home looks from street is crucial as it's first impression buyers will have; if it looks bad from outside then buyers may assume interior of house is similarly dilapidated and skip visit altogether.
Take look at curb appeal with objective eye and see if any improvements can be made. In vast majority of country spring is best time list house for sale as largest number of buyers are looking; winter is slowest due holidays and bad weather so review main sales options and plan strategy accordingly. How accurate is my Zestimate and can I influence it? The content of this site is not intended to provide legal financial or real estate advice; it's for informational purposes only and links provided are for convenience of user; seek services of legal accounting or real estate professional before any real estate transaction; Zillow's intention is not solicit or interfere with any established agency relationship user may have with real estate professional.