How Long Will It Take to Sell Your Home in Sharon MA?
Every seller wants to know, "How long will it take to sell my home?" and "How much can I sell it for?"
One of the important pieces of information that I can give a client is an understanding of the current inventory of homes for sale.
Why is this important? The amount of inventory is a good indicator of supply and demand. When there are fewer homes for sale, buyers may act more quickly. If there are many homes for sale, buyers want to see more of them before they make a decision. This information is important for the sellers to have as they consider my recommendations for pricing and preparing their home to sell.
One aspect of this is understanding how much time it will take for the current inventory to disappear, or be "absorbed", at the current rate of sales, if no other homes for sale come on the market. This is called the "absorption rate". Absorption rate is a good indicator of how fast homes are selling.
In Sharon MA the current absorption rate is 5.5 months. Here's how it's calculated:
In other words, 48 homes sold in the last 3 months at a rate of 1 every 1.87 days, or 16 per month. With 89 houses to sell, it will take 5.56 months to sell the current inventory.
Here's what that means for sellers: At this rate of absorption a seller has an 18% chance of selling in the next 30 days, close to a 1 out of 5 chance. So while one of five homes is expected to sell in the next month, 4 out of 5 will not. Important information for sellers to consider when thinking about pricing their home to sell.