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Real Estate FAQ: How Long Does it Take to Buy or Sell a Home?October 05, 2020
Whether you're buying or selling a home, one question likely comes to mind: "How long will this stress last?" Moving is a huge life transition, and the timeline depends heavily on the location and the situation, making it really hard to pin down how many days your home search or sale may last.
Nonetheless, a look at national and Metro Atlanta data reveals a range of time you can expect. Regardless of whether you are buying or selling, the market is hot and things are moving a lot quicker than normal. Now is a great time to get involved.
Selling a Home:
According to a recent study by the National Association of REALTORS ® (NAR), as of July 2020, U.S. homes were on the market for an average of 24 days before the seller received the right offer. This is below the typical yearly average of around 39 days.
From listing through the 35-day closing period, the complete process lasts typically closer to 74 days.
There are multiple factors that affect how long a house remains on the market such as time of year (May is the best month to sell in Metro Atlanta according to yearly data), local market conditions, the price, and condition of the home.
A local agent focused in the Metro Atlanta market can better prepare you to navigate the conditions in the area. If you are interested in expediting the process to as few as two weeks, our Instant Move program is the best choice for you. You can find out more here.
Buying a Home:
According to a recent study by NAR, as of June 2020, buyers typically searched 10 weeks for their new home and looked at a median of nine homes. These buyers ranked finding the right property as the most difficult step of the home buying process, even over saving for a down payment or getting a mortgage. The closing period takes an additional 30-45 days.
Other steps that can add time to the process are waiting for your offer to be accepted and receiving financing. It's important to start planning months in advance so that you can save for a down payment, keep close tabs on your credit and find the perfect real estate agent and start looking at homes you're interested in viewing online.
Ready to get started? Whether you're looking for your dream home or moving on from your old one, simply call us at 404.843.2500 and we'll set you up with a real estate professional in your community.