Don’t Skip Over That House That’s Been Sitting on the Market

When you see a house that’s been sitting on the market for a while, the reaction is almost automatic. You start thinking…

• What’s wrong with it?
• Why hasn’t anyone bought it yet?
• Am I missing something?

Maybe, that mindset may have made sense a few years ago. But in today’s market, you may actually miss out.

More Time on Market Isn’t Automatically a Concern Anymore

A few years ago, homes sold in just a matter of days. Sometimes, hours. Anything that lingered longer than that raised concerns or it was an indication of overpricing. But that’s no longer the baseline.

Inventory has grown. Buyers have more choices. And homes are taking longer to sell across the board. Those are some of the reasons why the typical time it takes a home to sell has climbed.

And, it’s not that 73 days is slow. That’s actually pretty normal for this time of year. It just feels slow because you heard so much about houses being snapped up in the buying frenzy a few years ago.

That shift alone explains a lot of what you’re seeing. It’s not necessarily that there’s anything wrong with the house itself, but certainly, you should do your due diligence with inspections.

Most of the time today, a house that’s taking longer to sell simply means:

• There are a lot of homes for sale in that area
• The higher the price point, the longer it takes
• Buyers may not be as active with scheduling showings (holidays, weather, etc.)
• Economic uncertainty, causing buyer hesitation

Yet, none of those are necessarily deal-breakers.

What Buyers Often Get Wrong About These Listings

Because even though you may assume a house that hasn’t sold must have hidden issues, the reality is, that’s not always the case. And, if the house does have issues, it’ll show up quickly in your inspection.

However, the key is knowing which homes that have been sitting for a while are worth a look. That’s why working with a local agent makes a real difference. They’ll be able to look at disclosures and more to help you uncover hidden gems that other buyers may overlook.

Bottom Line

A home sitting on the market isn’t a warning sign. Sometimes it’s an overlooked opportunity.

If you want help identifying which homes are worth a look, let’s talk.

DELINDA HARPER
ASSOCIATE BROKER
COLDWELL BANKER REALTY
CALL or TEXT 717-350-0949
OFFICE 717-761-4800
DELINDA.HARPER@CBHOMES.COM
REALTOR55PLUS.COM