Why is My House Not Selling in a Hot Market?

The market is still hot, you see houses in your area sell fast, yet your property remains unsold. You may be asking yourself, Why is my house not selling in a hot market? If you are, the first thing to do is not take the matter personally. It is not a reflection of your property. However, there are steps you can take to help attract interested buyers.

Every property is different, and there are many reasons why a house remains unsold. Your property may be priced too high in a competitive market, and buyers may feel its price doesn’t reflect its value. Also, your agent could be inexperienced with little understanding of today’s real estate climate. No matter what the problem is, there are steps and solutions to make sure your house is sold.

Sell My House Tip #1: Timing is Everything

How do I sell my house, and fast? When it comes to selling a house, timing is everything. The longer a house stays on the market, the less likely you’ll sell it at the asking price or above. Generally speaking, properties on the market for a month or longer have a greater risk of this happening. The sooner you notice the problem and take steps to solve it, the less likely the problem will escalate further.

According to Zillow, there’s a 57% chance to sell your home at the initial price in the first week of listing. These odds drop from week to week: down 50% the second week, 39% the third, and even lower after that. The best odds of selling your home at the list price happen the sooner it’s sold.

How to Sell My Home: The Right Place, The Right Price, and the Right People

Selling your home is about creating the ideal situation to make the sale happen. Sellers can quickly turn things around with the right help. This means making the most of the property offered, pricing it correctly, and working with the right people to sell it. 

Why is My House Not Selling in a Hot Market?

Professional Listing Photographs

The location itself needs to be photographed as professionally as possible in the listing photos. If the home has distinct features, they should be highlighted in ways to attract potential buyers.

Fair Listing Price

One of the first things to look at, beyond location, is the offering price. Many homeowners think they can start with an initially higher offer and lower it if interest isn’t generated. Unfortunately, this is often a double-edged sword. As soon as a home first enters the market, it’s under the most scrutiny from potential buyers. Starting at a fair listing price is a good way to attract the right buyer.

If the price is initially too high, this will push potential buyers away. If the price is suddenly lowered, this could suggest a problem in the home, or a project a desire to sell quickly. Either misconception could mean the difference between a buyer deciding on the property or passing on it.

The Right Team

Another important consideration to make is the people you’re working with, specifically your realtor. Even minor missteps like waiting on an open house or not getting back promptly to potential buyers impact sales. You don’t want to be stuck with the wrong realtor, so research your options before committing.

Having your home priced competitively, properly marketed, and in the right hands makes a huge difference in selling it.

Heat Up Your Home Sales with Creation Holdings

The real estate market frequently gets cold or hot. If you want a realtor who can handle hot and cold markets alike, consider Creation Holdings

We know what it takes to make your home-selling experience as easy as possible. Choose your price, choose your closing date, and we’ll work with you to make it happen. There are no commissions and no fees, just friendly and professional service. Requesting an offer is free and usually takes just a couple of minutes. If you’re looking to sell your home in Utah, we’re interested in making you an offer.

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