Homes Are Lingering on the Market, But These Tricks Have Proven to Speed Things Up
Sometimes it’s as simple as a statement rug.
Published Nov 4, 2022 3:37 PM
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The sizzling real-estate market has simmered down, so much so that the median time for homes on the market is up 45 percent since last year, according to a recent report from Zillow. The data also revealed that nearly half (46 percent) of all listings are lingering for more than 60 days. As demand softens, it’ll take more than a “For Sale” sign in the yard to get the bids flowing, so the ball is back in the sellers’ court to woo prospective buyers. Fortunately, there are several ways to boost your space’s appeal and home value, starting with these three statistically supported upgrades.
Speed Things Up With Sustainability
Thanks to more research from Zillow, we also know that listings with energy-efficient, eco-friendly details can help move a home off the market 10 days faster than expected. For West Coasters especially, features like having your property retrofitted for earthquakes may not only speed up the closing process by 19 days, it might also boost your house’s value by 2.4 percent. For the rest of the nation, having an EV charging station installed also topped the list, fast-tracking deals by a week and a half.
Up the Timeline and Final Price With Staging
Homes with a bit of professional sprucing sell 88 percent faster and for 20 percent more than ones that haven’t, according to a report from Realtor.com. Some of the easiest updates, according to seasoned stager and designer Kirsten Blazek, include adding a few statement rugs, unmounting TVs, and removing anything super-personal, which means you might want to stash your summer vacation photos away until you get moved into your new place.
Tempt the Senses With Aromas From the Kitchen
Turns out, sticking a batch of cookies in the oven just before an open house is no longer the key to convincing strangers your house can feel like their home. A survey from GetAgent revealed that it might pay to skip the sweets. Out of 1,500 people polled, nearly 40 percent responded that they’d be more enticed to buy a place that’s filled with the aroma of just-out-of-the-oven bread. Fresh laundry and brewed coffee were also front-runners in the race to earn a “Sold” sign.