If you’re getting ready to put your Wilmington home on the market, you’re probably wondering how long it’s going to take your home to sell. Between preparations, an unpredictable showing schedule, and financial factors, selling a home can be a stressful process. It’s not unreasonable to want it over as quickly as possible. So, what is the answer? Will it be days, weeks, or months?
The answer is different for every property. Location, condition, and price are the main determinants. The more popular the location, the better the condition, and the more competitive the price, the quicker a home will sell. However, there are certain stats that can help give a ballpark number of days.
Our local multiple listing service (and many others) allow the local real estate board to track how quickly homes are selling and at which price. Each county, city, and community have average days on the market (ADOM). The more specific the area, the more accurate the estimate.
For example, the ADOM for the greater Wilmington area (New Hanover, Brunswick, and Pender Counties) in February was 127 days. However, for the community of Meadowbrook in Wilmington, it was 57 days. But keep in mind, there’s a wide range here, because the minimum was 6 days and the maximum was 101 days. So, this is where price and condition comes into play.
Your Realtor will be able to share the ADOM for the area your home is located. They should also advise you on what needs to be done to compete with other similar homes on the market, but you have the final say on what your home is priced at and what improvements (repairs, updates, and staging) you make before listing. Your real estate agent is there to help you make an informed decision.
If you are considering selling your Wilmington area home, we’d love to sit down and talk about your options and our marketing plan. We’ll do a comparative market analysis to show you how other similar homes are selling, including the ADOM. Give us a call at (910) 202-2546 or send us a message through our Contact page. If you’d like a ballpark estimate of your home’s current market value, you can also try our automated system at WilmingtonHomeValuesOnline.com.