Selling a house is a significant life event that often comes with a burning question: “How long does it take to sell a house?” The time it takes can vary significantly depending on various factors. Whether you’re in a hurry to move or just curious about the timeline, knowing what influences the selling process is crucial.
We’ll explore all the elements affecting how quickly you sell your home and provide helpful tips for speeding up the process.
Table of Contents
1. What Determines How Long It Takes to Sell a House?
Location of the Property
One of the biggest influences on how long it takes to sell a house is its location. Homes in high-demand areas, such as cities or regions with strong job markets, often sell faster than properties in rural or less desirable locations. For instance, a house in Sydney or Melbourne might sell quicker than a property in a small town, where demand may be lower.
Recent data indicates that regional housing markets are experiencing a surge in value, surpassing the growth rates of capital cities. This 1.2% increase compared to the combined capital cities’ 1.0% rise could influence the time it takes to sell properties in different regions.
The State of the Real Estate Market
The real estate market operates in cycles, and whether it’s a buyer’s or a seller’s market can significantly impact the selling time. In a seller’s market, there are more buyers than available properties on the market. Homes often sell rapidly, sometimes above the asking price.
On the other hand, in a buyer’s market, there are more properties for sale than buyers, making it harder to sell quickly. In that case, sellers may need to lower their asking price, offer concessions, or negotiate more extensively with buyers.
Understanding the dynamics of the Australian property market is crucial for both sellers and buyers when deciding to buy or sell a home.
Seasonality and Time of Year
The time of year you decide to list your house can affect how long it stays on the market. In Australia, spring (from September to November) and summer (Late November to early December) are typically the best times to sell. The warm and inviting weather attracts more buyers, leading to increased activity and potentially faster sales, with properties selling approximately 5-7 days quicker than the annual average.
In contrast, properties listed in the winter (June, July, and August) and autumn (March to May), especially around the holiday season, may take longer to sell due to reduced buyer activity.
Economic Conditions
Local and global economic conditions, such as interest rates and employment rates, play a crucial role in determining how quickly homes sell. During economic downturns, people are less likely to purchase homes, which can increase the time it takes to sell.
2. How Long Does It Take to Sell a House on Average?
On average, homes typically take 30 to 60 days to sell once listed. However, this is just an estimate, and actual timeframes can vary based on the factors discussed above. If you’re in a hot real estate market, the sale can happen much faster, sometimes within a few weeks or even days.
Selling Times for Houses in Australia
| Location | Average Selling Time (Days) |
| Capital Cities (Average) | 28 |
| Sydney | 34 |
| Melbourne | 39 |
| Brisbane | 20 |
| Adelaide | 28 |
| Perth | 10 |
| Hobart | 54.5 |
| Darwin | 50.5 |
| Canberra | 49 |
| Regional Australia | 44 |
Recent data shows that over the three months to January, the median selling time for a capital city dwelling was 28 days, while the median selling time in regional Australia was 44 days. This indicates a slight increase in selling times, partly due to the seasonal slowdown in sales activity.
Days on Market (DOM)
A common real estate metric used to measure how long a house has been on the market is Days on Market (DOM). This figure represents the total number of days a property has been listed until it goes under contract.
A low DOM generally indicates a quick sale, whereas a high DOM might suggest a property has been on the market for an extended period, which could signal issues with the listing price or condition of the house.
3. The Role of Pricing in Selling a House Quickly
Importance of Proper Pricing
One of the key determinants of how long it takes to sell a house is the listing price. Pricing your home too high can turn off potential buyers while pricing it too low might raise questions about the property’s condition.
Striking the right balance is crucial to attract serious buyers and minimise the time your home spends on the market.
Adjusting the Price
If your home has been on the market for a while without generating much interest, it may be time to consider a price reduction. Reducing the price can reignite buyer interest and lead to a quicker sale.
However, it’s recommended to consult with your real estate agent before making any pricing adjustments to ensure it’s the right move.
4. How Long Does It Take to Sell a House with a Real Estate Agent vs. Without One?
Selling with a Real Estate Agent
Working with an experienced real estate agent can significantly impact how long it takes to sell your house. Agents have access to a wide network of potential buyers and are skilled at marketing properties. They also understand the local market and can help you set a competitive price that can lead to faster sales.
Selling Without a Real Estate Agent (FSBO)
If you choose to sell your house on your own, often called For Sale By Owner (FSBO), the process can take longer. Without professional guidance, you may have difficulty pricing your home correctly, marketing it effectively, and navigating the legal aspects of selling. However, if you’re experienced and have the time to invest, FSBO can save you money on commission fees.
5. Tips to Speed Up the Home Selling Process
Enhance Curb Appeal
- First impressions matter, and boosting your home’s curb appeal can make a significant difference in how quickly it sells.
- Simple updates like painting the front door, landscaping the yard, and cleaning up the exterior can attract buyers and create a positive first impression.
Make Necessary Repairs
- Homes that are in good condition tend to sell faster than those that need major repairs.
- Fixing small issues, such as leaky faucets or broken tiles, can prevent potential buyers from being turned off and help the sale go through more quickly.
Stage Your Home
- Staging your home involves arranging furniture and decor in a way that appeals to buyers. Staged homes allow buyers to visualise themselves living in the space, which can lead to a faster sale.
- Consider hiring a professional stager or researching DIY staging tips to make your home look its best.
Professional Photography and Marketing
- High-quality photos can make or break a listing. Homes with professional photography tend to sell faster because they stand out on real estate websites.
- Additionally, leveraging digital marketing strategies such as social media promotion and virtual tours can attract more buyers and speed up the process.
6. How Long Does It Take to Close Once You Find a Buyer?
- Once you’ve accepted an offer, closing typically takes 30 to 45 days, depending on several factors such as the buyer’s financing and the contract terms. If the buyer pays in cash, the process can be quicker, often wrapping up in as little as two weeks.
- Certain issues can arise during the closing process, such as problems with the buyer’s loan approval or contingencies in the contract. To avoid delays, make sure you work closely with your real estate agent and respond to any requests promptly.
7. Selling Your House? Let’s Make It Happen.
I’m Liz Miles, a dedicated real estate agent adelaide with a passion for helping clients find their dream homes. With years of experience in the industry, I possess a deep understanding of the local market and a proven track record of successful sales.
My expertise in negotiating, marketing, and guiding clients through the buying or selling process ensures a smooth and stress-free experience. Whether you’re looking to buy or sell a property, I’m here to provide personalised service and help you achieve your real estate goals.
Contact me today to sell your house quickly and for top dollar!