Memphis had one of the hottest U.S. real estate markets in 2021, and does not show any signs of slowing down in 2022. The booming Memphis real estate market has inspired many people to both buy and sell houses in the area.
If you want to sell your Memphis home quickly, then there are many factors to consider. Read on to learn more about selling a home in this environment.
An Overview of Memphis Real Estate
Home to Graceland, the Blues Hall of Fame, delicious BBQ, and riverfront views, Memphis real estate is only becoming more desirable. Shelby County, where Memphis is located, is the most populous county in the whole state of Tennessee.
As investors swoop in and inventory remains low, the sellers’ market continues to thrive in Memphis. Median sales prices for homes are rising as the housing market becomes more competitive.
Although inventory is low, the city is seeing a building boom, with hundreds of new houses popping up every month.
How Long Will It Take for My Home to Sell?
If you are trying to sell a house in Memphis, then there are many factors that will determine how quickly your property will be sold. Here are a few of the major contributors to sale time.
It is important to sell your house for a reasonable price. If you overprice your home, then your property will likely spend more time on the market. You may end up selling for a lower price anyway, so why not price it that way right out of the gate?
The Number of Days on the Market
Unfortunately, time on the market on its own is enough to keep your home from selling. If your home sits on the market for too long, buyers may think something is wrong with it and pass it up.
The Condition and Location
The condition of your property plays a big part in whether or not your home will sell quickly. If you have minimal repairs or structural issues, then people will be more likely to purchase your home right away. If there are major issues, buyers may not want to contribute the time and money to fix them.
Location is another important factor to consider when selling your home. If you are located in a popular area, then your home will sell quicker than if you reside in an undesirable neighborhood.
How to Help Your Home Sell Faster
There are a few things you can do to increase the desirability of your property. If you are looking to get your home off the market faster, then follow these steps.
Clean and Declutter
A little cleaning can go a long way. Make sure your house is clean and tidy for real estate photos and open houses. A decluttered, open space will make your home appear larger and more appealing to buyers.
Also, pack away any personal belongings, religious items, or keepsakes. These items may distract buyers from being able to picture themselves in the home.
Create Curb Appeal
Enhancing the front of your home can increase your curb appeal and persuade buyers to make an offer. Consider completing tasks such as painting your front door, power washing your siding, updating your lighting, and touching up your landscaping. For more information on increasing curb appeal, check out our recent blog post on the subject.
Repair Minor Issues
If your home has a few minor repairs such as leaky faucets, scratched paint, or loose tiles, then take a few hours out of your day to fix them. A little bit of repairing can help you sell faster as buyers will be looking out for these small issues.
Price Your Home Fairly
As mentioned before, pricing your home too high can cause it to sit on the market longer than you would like it to. Do your research to see what homes in your area are selling for and price your property accordingly.
The Easiest Way to Sell Your Home Fast
Although the average time that a house is on the market is 38 days, this does not guarantee a quick home sale. Even if your home sells quickly, it can take well over 2 months to get to the closing table as it depends on the buyer’s mortgage lender and loan type.
If you are looking for the quickest and easiest way to sell your home, then you may want to consider a cash buyer. A cash buyer will give you an offer within 24 hours and get cash in your hands within a week. You don’t have to navigate the closing process or worry about the sale not going through, which makes it easier for you to get your money quickly.
Cash buyers don’t charge realtor fees and don’t require you to fix anything within your home. This makes it an ideal solution for homeowners with financial struggles or property that is beyond repair.
Sell Your House Fast Today
If you want to sell your house quickly, then we can help you get started. All we need from you are a few simple details to get the process started.
After you fill out our form, we will contact you as soon as possible to arrange a meet-up. From there, we will give you a cash offer within 24 hours. If you accept our offer, we will purchase your house at a time that works for you.
Feel free to contact us with any questions or concerns about Memphis real estate or our services.