If you're purchasing a cooperative or a condominium in a senior housing community, hopefully you've taken my advice and moved first, and put your house on the market second. For most seniors this can be done financially and is less work, and less stress, for both seniors and their families.
In this real estate market this may mean your house has been on the market for a while!
Do you know how long it *should* take for your home to sell? It's easy to get inpatient after 30 days, but your expectations may not be realistic.
Given that you've got a good real estate agent, have adequately prepared your home for the market, and have done a good job of pricing your home based on the condition and location, you should be able to sell your home close to the average number of days within which homes have sold in the last 90 days. Keep in mind things always seem to take a little longer now that we're entering the fall market.
An earlier post: How long will it take my house to sell, lists statistics from March, 2007. I've taken the liberty to compare today's statistics with those in March and have noted them with "U" FOR UP or "D" FOR DOWN.
| Minneapolis | ||||
| Avg. Days on Market | Avg. Sales Price | |||
| Calhoun | 75.3 | D |
$377,983 | U |
| Camden | 77.9 | D | $128,791 | D |
| Central | 71.9 | D | $293,380 | D |
| Longfellow | 41.2 | D | $217,329 | D |
| Nokomis | 50.7 | D | $239,745 | U |
| North | 90.4 | D | $96,393 | U |
| NorthEast | 68.8 | D | $201,688 | U |
| Phillips | 80.3 | D | $155,320 | U |
| Powderhorn | 73.7 | D | $173,455 | U |
| Southwest | 58.8 | D | $360,825 | U |
| University | 88.3 | D | $266,773 | U |
| St. Paul | ||||
| Avg. Days on Market | Avg. Sales Price | |||
| Riverview/Cherokee | 80.2 | D | $180,860 | U |
| Homecroft | 84.5 | U | $189,900 | U |
| Crocus Hill | 62.3 | D | $372,576 | U |
| Downtown | 83.7 | D | $171,152 | D |
| Central | 68.2 | D | $144,823 | U |
| Como | 53.6 | D | $215,217 | U |
| St. Anthony/Midway | 55.9 | U | $243,222 | U |
| Meriam Park | 62 | D | $352,105 | D |
| Mac/Groveland | 53.7 | D | $316,837 | U |
| Highland | 61.8 | D | $307 | U |
| Phalen | 128.6 | U | $164,739 | D |
| Dayton's Bluff | 79 | D | $160,514 | U |
| Southeast | 82.2 | D | $195,505 | D |
Related posts:
I never would have thought it would be easier for seniors to sell their homes if they moved out first, but it really makes sense. Thanks for the great advice!
Posted by: Louisville real estate | September 14, 2007 at 11:48 PM