If you’re a homeowner in Phoenix contemplating selling your house, one of the most significant initial concerns you might have is, “How long will it take to sell my house?”
It’s a critical question that can impact your planning, financial decisions, and future housing arrangements.
In this post, we delve into the heart of the matter and explore what the average time to sell a house in Phoenix really is, and what factors can potentially affect this timeline. We’ll also examine strategies to potentially speed up your home’s sale in the Phoenix market.
What’s the average time to sell a house in Phoenix?
When you consider selling your home, knowing how long it might stay on the market can significantly influence your plans and decisions. This period, commonly referred to as “Days on Market” or DOM, is a crucial metric to understand.
In the Phoenix metropolitan area, the average DOM for homes that have sold is around 67 days, according to top-performing Phoenix real estate agent Joe Bourland, who has 22 years of experience and works with over 65% more single-family homes than the average Phoenix agent.
Bourland further reveals that the average DOM for active listings (homes still on the market and not yet sold) extends to approximately 87 days. “If a house is positioned correctly in the market, it will sell weeks earlier than a house that isn’t,” he explains.
This vital insight underscores the role of a robust selling strategy in minimizing DOM and accelerating your home’s sale. However, as Bourland rightly points out, “Real estate is hyper-local and specific to each house.” This statement is a reminder that each home’s DOM can vary based on numerous factors, from location and price to property condition and market trends.
Timing can also play a role in how fast your Phoenix home sells.
What is the best time to sell a house in Phoenix?
The seasonality of real estate is a key factor that can significantly influence the length of time it takes to sell a home and the final sale price. In Phoenix, this seasonality is influenced not only by market trends but also by the region’s distinct climate.
“Summers are hot in Phoenix, and a lot of would-be buyers tend to vacation out of the area during this time. Though lots of homes still sell, from July until the end of the year, home sales nearly always decrease until after the new year,” says Bourland. He further notes, “April, May, and June historically see our highest quantity of sales. It takes a motivated buyer and seller to want to move in July and August when the average temperature is 105 degrees.”
- Best time for more money: Based on HomeLight’s Best Time to Sell Calculator’s transaction data, if you aim to get more money for your Phoenix home, November seems to be the most favorable month. It typically takes about three months to close on your home, so listing your Phoenix property in August could potentially result in a sale price that’s 2.69% higher than the yearly average.
- Best time to sell fast: If your priority is to sell your Phoenix house fast, our data indicates that the quickest home sales occur in October. Listing your house in July could help you close the sale three days sooner than in any other month, given the usual three-month period from listing to closing.
Remember, these are averages and trends that can help guide your decision, but individual outcomes can vary. Want to get a personalized estimate for the best time to sell your home? Use our Best Time to Sell Calculator for insights tailored to your specific location.