How long will it take to sell my Monroe NY house?

By
Real Estate Agent with Grand Lux Realty 914-419-0270 (NY), kat@thehousekat.com, (MT) 406-270-3667, more information to be provided shortly 10301213186

One of the questions home sellers may ask is, "How long will it take to sell my house?"   The answer is a murky, "It depends."   There is no way to be more specific.   The amount of time from the listing of a home to the closing depends on whether the home is priced properly, presented and marketed well, and is accessible to buyers who want to see it.   It also depends on whether the right buyer is out there looking at the same time the seller is selling their home; the right buyer being one who not only loves the house but will be able to obtain a mortgage or will have enough cash to purchase the home.  So there are multiple factors that go into the final equation as to how long it takes to sell a house.

 

That being said, statistics from our local MLS system show how long it has been taking for the average house in the town and village of Monroe, NY to sell.

 

Over the last thirteen months, the the shortest amount of time from listing to closing was 22 days.  The longest listing to closing timeframe was 900 days, yes, that's two and a half years. That particular home was a "TLC needed" short sale.  During the time the home was on the market, the list price was reduced by 40%, one accepted offer fell through, and there may have been other issues along the way that dragged that particular deal out over two years.  That's not a normal amount of time to get to the closing table.

 

Over the last thirteen months, the average time required to get from the listing date to sale date in Monroe NY was 214 days, or ~7 months.   That breaks out to slightly less than 5 months to get to a contract, and another 2 months to get to the closing table.   

 

While this may not sound like good news to sellers who are in a hurry to sell, the encouraging news is that the average time to closing is slowly improving in the area.   In addition, the time for a home that is in great shape, is staged well, and is priced at market value is much better than the time for a home at the opposite side of the readiness spectrum.   Thirty-four homes during this reporting period closed less than three months after they were placed on the market.  Twice that number closed between three to six months.

 

So the answer to  "How long will it take to sell my house?" is "It depends."   

 

Posted by

 

Kat Palmiotti, The House Kat

Licensed Associate Broker, CBR®

Grand Lux Realty, Inc.

428 Main Street

Armonk, NY 10504 *

* still supporting Monroe NY, Orange & Rockland counties.

 

914-419-0270 (cell)

email: kat@thehousekat.com

www.thehousekat.com

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Rainmaker
3,166,119
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Kat,  The good thing is interest rates are still low and spring is coming so things will pick up and that time should come down for days on market. 

Feb 05, 2014 11:00 PM #1
Ambassador
2,692,003
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Kat, "It depends" is truly the best answer.  So many variables involved, and even when the seller does EVERYTHING right with their listing agent, there still needs to be a buyer actively looking that matches up, and depending on how unique a home is, it may be longer for a buyer that matches up shows up.  It's Goldilocks in the adult version, everything needs to be "just right", or it won't work.

Feb 06, 2014 01:44 AM #2
Rainmaker
1,303,213
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Kat,

That's a well thought out and useful post.  THe people in your area are lucky to have you guide them through the process of buying and selling a home.

Feb 06, 2014 02:21 AM #3
Rainmaker
1,435,090
Kat Palmiotti
Grand Lux Realty 914-419-0270 (NY), kat@thehousekat.com, (MT) 406-270-3667, more information to be provided shortly - Kalispell, MT
The House Kat

Will - I think it will slowly improve as the distressed properties reduce in number.

Bliz- It's amazing we are able to get to closing as often as we do!

Wayne/Jean Marie - Thank you so much.

Feb 06, 2014 03:48 AM #4
Rainmaker
561,964
Women of Westchester Working Together
Women of Westchester Working Together - West Harrison, NY
Women helping Women get ahead

Great explanation, Kat. Yes, it really does depend.  It seems like the pricing is usually the biggest factor.  - Debbie

Feb 06, 2014 07:23 AM #5
Rainmaker
3,173,663
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Yes, there are so many variables as to how long is will take to sell a house. Price, condition and location though has a lot to do with it...

Feb 06, 2014 07:50 PM #6
Rainer
1,756,848
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Kat.  You are definitely in a buyer's market.

Feb 06, 2014 08:07 PM #7
Rainer
96,912
Jeff Fritzson: Frisco Real Estate Pro
Jeff Fritzson Real Estate, Ebby Halliday Realtors - Frisco, TX
Your Success is My Focus!

Hi Kat - another great post. Trying to nail down a time for a seller is almost like reading a crystal ball. Your explanation provides them with information that lets them know you are the right agent to utilizein their sale.

Feb 06, 2014 11:25 PM #8
Rainmaker
1,333,748
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Kat - Excellent post and you're spot on, it all depends and there are so many factors out of our control.

Feb 07, 2014 10:50 PM #9
Rainmaker
694,665
Clint Mckie
Desert Sun Home, commercial Inspections - Carlsbad, NM
Desert Sun Home, Comm. Inspection 1-575-706-5586

Hi Kat,

Price and location, then comes condition and the inspection. After that the closing table should be in plain sight for you.

Have a good day in Monroe.

Best, Clint McKie

Feb 08, 2014 04:22 AM #10
Rainmaker
456,036
Shannon Milligan, Richmond VA Real Estate Agent/Associate Broker
RVA Home Team - Richmond, VA
RVA Home Team - Winning with Integrity.

This is always a question sellers ask and knowing the days on market not only for the area, but the specific neighborhood, is a must!

Feb 08, 2014 06:43 AM #11
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1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

That's right, there is no way to be specific about time it will take to sell a home.  Excellent post.

Feb 08, 2014 08:00 AM #12
Ambassador
2,297,463
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

That's right, there is no way to be specific about time it will take to sell a home.  Excellent post.

Feb 08, 2014 08:00 AM #13
Rainmaker
1,435,090
Kat Palmiotti
Grand Lux Realty 914-419-0270 (NY), kat@thehousekat.com, (MT) 406-270-3667, more information to be provided shortly - Kalispell, MT
The House Kat

Debbie - Pricing, condition, marketing, buyer readiness...  It's so hard to pinpoint a timeframe!

Larry/Sheila - How true!

Conrad - We are slowly moving out of one, but we are way behind the rest of the country!

Jeff - Me and my crystal ball thank you!  :-)

Michelle - I'm not great with dealing with things beyond my controL!

Clint - That table is a beautiful sight.

Shannon - So true.

Judi - Thank you so much.

Judi - Thank you so much.  :-)

 

Feb 08, 2014 08:35 AM #14
Rainmaker
4,432,217
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Anyone looking to sell their house in your area should list with you. You know the market.

Feb 09, 2014 08:06 PM #15
Rainmaker
1,435,090
Kat Palmiotti
Grand Lux Realty 914-419-0270 (NY), kat@thehousekat.com, (MT) 406-270-3667, more information to be provided shortly - Kalispell, MT
The House Kat

Thank you Gita for your kind words!

Feb 09, 2014 08:38 PM #16
Rainmaker
4,077,625
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Kat, excellent points for Sellers when asked "how long will it take to sell my house", and there are so many factors to consider.  Plus you never know when that RIGHT BUYER will be in the home.

Feb 11, 2014 09:54 PM #17
Rainmaker
1,435,090
Kat Palmiotti
Grand Lux Realty 914-419-0270 (NY), kat@thehousekat.com, (MT) 406-270-3667, more information to be provided shortly - Kalispell, MT
The House Kat

Joan - True, the right buyer has to be there as well!

Feb 11, 2014 09:58 PM #18
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