Why Hasn’t My Home Sold?
What To Do If Your Home Is Not Selling
The main reason homes can have trouble selling, is because of a changing buyer’s market. A buyers market is when there are too many homes on the market, and not enough buyers. This causes home prices to go down, and as a result sellers become more motivated. If your home is not selling, consider contacting your Realtor to go over recent pricing comparables in your market to determine if you need to modify your listing price. Markets are constantly changing, so when homes aren’t selling they are usually facing increased competition from other homes.
Aside from a changing market, homes can have trouble selling if they’ve been on the market for a while. It’s best to hit the market strong out of the gate as there is a “sweet spot” in time that buyers get excited about properties. If your home has been on the market for a while and you feel you missed the “sweet spot”, you can boost interest in you home by starting an open house campaign . Open house campaigns are a great way to create more excitement around your home. Consider “staging” your home as well. According to the National Association of Realtors (NAR), staging a home that is for sale can affect the way a buyer values it and the price a seller can actually get for it.