Question:
"I am looking at moving from Broken Arrow to Mid Town to move closer to work. How long should I expect it to take to sell my house in Broken Arrow during these economic times?" --
Jeff in Broken ArrowAnswer:
It depends on what location and price range the home is in.
Market time can range from about 60 days for the least expensive homes to a over a year for the over $500,000 range.
It also would depend on the area you live in. Every subdivision has a different average days on market.
Generally in Broken Arrow properties under $150,000 are moving quickly, $150,000 -$200,000 is a balanced market, but those over $200,000 are slow to move.
Condition and location of the property are also factors for market time. As a result of increased inventory of homes for sale, buyers are currently very sensitive to condition and will hesitate to purchase properties that need updating.
Jeff should consider getting a Comparable Market Analysis (CMA).
The CMA would identify any issues with condition, recommend improvements and enhancements, and indicate probable market time for the specific property.
Leigh Carter, CRP
Broker AssociateCarter/Hammonds Group
Patterson Realtors
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