Realtor.com assessed the listings on its website to check which homes sell very fast. Location, price, interior features, architectural style, and the types of houses can influence how quickly a home will sell.
Affordable Price Point
As homeownership is now hitting a 50-year low, home buyers are now very selective. Houses listed between $200,000 and $250,000 sold in around 83 days, quicker than many in all alternative price ranges. This is relative to 133 days for homes that come between $2 million and $5 million. In the typical situation, the more expensive a house, the longer it may take to sell: Realtor.com pointed to the issue that Minnesota’s most expensive home, listed at $24 million, has remained in the market for around eight years.
Not Excessively Tiny, Not Excessively Large
Realtor.com says that big homes gain more significant traffic on its website compared to minor ones: To consider, an 8,000-square-foot mega mansion has drawn 30% more traffic than a 1,000-square-foot house. But the bigger the house, the longer it is left on the market. The houses that sold the fastest—on average 86 days—measured from 1,500 and 2,000 square feet and were priced at around $194,000. The data has stated that residences over 10,000 square feet, priced at a median of $3.45 million, remained on the market for a median of 173 days.
Stainless Steel Fixtures
Stainless steel sells well. Listings that hold stainless steel appliances can get off the market in about 79 days, 15% quicker than the median. These houses were priced at a median of $300,000. Homes with granite countertops were sold at $320,000 on the median, registered at second place, and selling in about 82 days. On the opposite end of the range, houses with fireplaces, once considered a prime point of a living area, took an extended time to sell, in 94 days. These homes were priced at a median of $290,000.
Close Distance to a School
Education is a priority for home buyers. Homes close to a school, particularly the ones described by keywords including “top” or “best,” came off the market in around 76 days. With a median listing price of $330,000, these drew the highest page views on Realtor.com. These ranked slightly above homes close to a stadium that sold in 77 days typically registered. Buyers do not highly value closeness to a hospital, with houses close to big medical centers requiring around 95 days to sell, receiving minor hits on the web, and being priced at the least of the properties researched, at $192,000. Ironically, they don’t value being close to public transportation: Of the factors examined, listings described in this manner took the second-longest median time, 88 days, to sell off the market.
Spanish Architecture
Spanish-style homes remain a minority, representing just 1% of Realtor.com’s listings. They are rather pricey, at a median of $550,000. They sell fast, remaining only 47 days on the market, about half the national average. That owes to them being found in the thriving real estate markets in urban spaces in California. Homes built with a Victorian style took the most protracted amounts of time, 122 days, for sales—though it has an average listing price of $259,000, almost half that of Spanish-style residences. Realtor.com ascribes this to the vibrant gaudy color painted facades or asymmetrical shapes, which do not resonate with many modern buyers. (Victorian homes are often much older, and fewer buyers desire the hassles of a 100-year-old home.)
