Reasons That Your House For Sale in Oak Bluff May Not be Selling

When you sell your house for sale in Oak Bluff, much of the process is about waiting for the right buyer to make an offer.  However, for many home sellers, the waiting game can be both stressful and confusing. Especially, since Canada’s market conditions have been favouring sellers over the past few years. With the spurt of low-interest rates post-pandemic and minimal national inventory, selling has gone smoothly for numerous Canadians. But, this is not to say that selling your home is easy. So, if you are a homeowner who is struggling to understand why your home may not be selling, we are here to help! In this article, we will go over all of the reasons why some houses take longer to sell than others. Follow along below to learn more!

What are Some Common Reasons That Homes go Stale on the Market?

The main reason why homes don’t sell is because they are not competitively priced. This is a common problem for home sellers since they often find their homes invaluable. Thus, leading to listing prices that are too high. When your listing price is above the average market value, it can quickly go stale on the market. This is why pricing your home is such a critical step in the selling process. In order to determine the best listing price, there is a substantial amount of research that needs to be done. From comparative analyses to professional appraisals, pricing a home isn’t a one-day job. 

It’s important to remember that while overpricing is a problem, so is underpricing. Underpricing your home’s worth can be a red flag to potential buyers. They may wonder why it is so affordable and assume that something is wrong with it. Or, they may think that the seller is hoping for a bidding war. Neither of these is positive in a buyer’s eyes and can instead deter potential interest in your property. 

The next reason that houses don’t sell is because of the market conditions. Just like picking your price point, knowing when to list is a critical part of a successful home sale. Unfortunately, predicting market conditions is usually not a straightforward endeavour. As a seller, there are many factors that are out of your control. For example, population growth/decline, rising/falling interest rates, housing demand/supply, political issues, weather, and new legislation. All of these items can contribute to how quickly or slowly your home sells. If you’re having trouble determining when the right time to list is, get in touch with an expert! They’ll have the tools and expertise to help you understand when to put your home on the market.

Other Factors Inhibiting you From Selling Your House for Sale in Oak Bluff

For most Canadian homeowners, buying/selling real estate is a task that they seldom take part in. According to a study done by the Canadian Mortgage Professionals, the average Canadian will only own 4.5 to 5.5 homes in their lifetime. This is hardly comparable to the hundreds of homes that an agent may sell during their career. As such, hiring a professional is a great way to increase your odds of success when listing your home for sale. They will be able to help you with all of the critical tasks in selling your home. From coming up with a competitive listing price to ensuring that your home is well-marketed. If you’re not yet working with an experienced agent, this is your sign to find one to help you through the process of selling your home. 

Another common reason that homes go stale on the market is due to poor listing photos. While it may seem inconsequential, having great imagery of your home is very important. In today’s market climate, most buyers begin their search for real estate online. As a result, having stand-out listing photos is a key part of attracting the interest of buyers and showing off your home’s best features. If you don’t already have professional photographs of your home, we recommend hiring a trusted photographer to help you level up your listing.

Finally, there is the possibility that your home is not selling due to its physical features or location. In general, homes that are situated in rural areas or far from urban amenities will take longer to sell. Similarly, homes with larger property sizes also tend to remain on the market for longer, since many buyers don’t want to have to maintain all of the land.

Contact us Today!

If you’re planning on selling your house for sale in Oak Bluff this spring, it’s important to reach out to an experienced agent!  As your REALTORS®, we are committed to providing you with the best services possible. If you have any other questions about why your home may not be selling as fast as you’d hoped, contact us today! We’d be happy to help support you through your real estate journey. Please feel free to reach out with any additional questions or concerns. Be sure to check out our social media for the latest updates and more. We look forward to working with you in the near future!