6 factors that impact how long a house will take to sell
Last updated on January 16, 2025
Understanding the reasons that impact how long a house will take to sell is vital to enhancing your chances of success in a real estate transaction. Though owners have the power to influence the timeframe in various ways, certain elements remain beyond their control. This article reviews six key factors highlighted by DuProprio real estate coaches that can take some time off the selling process.
Overview:
- How to calculate average selling time?
- Average time to sell a property in Quebec in 2024
- Six factors that impact how long a house will take to sell
- FAQ
How to calculate average selling time?
The time it takes to sell a house is calculated as the number of days a listing is on the market until a promise to purchase is accepted and all conditions of sale are met. Average selling time is determined by taking into account all properties sold during a given period in a particular area. The time it takes to receive money from the sale of a house is calculated from the moment an offer to purchase is accepted until the signing of the deed of sale at a notary office.
Average time to sell a property in Quebec in 2024
In 2024, the average number of days to sell a property in Quebec varied based on type of property. According to statistics compiled by DuProprio and the l'Association professionnelle des courtiers immobiliers du Québec (APCIQ), the average selling times were as follows: 62 days for a single-family home, 63 days for a condo and 81 days for plexes (2 to 5 units)1.
Several factors, including the six introduced in this article, can impact the amount of time. It is possible to reduce the average time it takes to sell a house by increasing a property’s visibility on a popular platform like DuProprio.com, by optimizing available tools to make a listing more attractive and by maximizing the impact of open houses and wider exposure on social media. A listing that’s more visible will attract more house hunters, increasing the chances of selling faster, and may even result in competing offers to purchase.
Six factors that impact how long a house will take to sell
1. Asking price
Price is unequivocally the factor most strongly impacting how long a transaction will take. An overpriced property will turn off potential home buyers and sit on the market longer. Conversely, a price that’s too low may very well speed up a sale but at an undervalued amount.
It may be worthwhile to set an asking price that’s slightly lower than the actual value to generate more interest and attract competing offers. This can ultimately reduce the time it takes to sell by optimizing the final selling price.
2. Location
Location is another decisive factor. Some areas have much higher demand than others. For example, a property located in a highly sought after neighbourhood in Montreal or Quebec City will usually sell faster than a property in a less popular rural or suburban area.
Amenities also play a key role: how close a house is to public transportation, schools, businesses and green spaces does influence the property value. It’s recommended to clearly list the advantages a location has to offer in a listing to maximize its online visibility.
3. Economic situation and time of year
Economic conditions have a direct impact on the real estate market. For example, fewer buyers are willing to sign on the dotted line when there’s a recession or rising interest rates. That can prolong the time it takes to sell. Conversely, during a period of growth or falling interest rates, the market can experience sustained activity due to increased purchasing power and that can speed up the selling time.
Interested in learning more about the current state of the market?
Time of year is also important to keep in mind. The real estate market is more active in spring and summer with sales peaking between April and June – when people are looking for a home to move into before the school year starts. The market then slows down through the winter months though people are still looking to buy and sell during this period, especially if they have to move for professional reasons.
4. Type of property
The type of property also plays a role in how long it will take to sell. A wider range of buyers is usually searching for single-family homes or condos, and this helps them to sell faster. Plexes can be more challenging to sell due to their higher price and the management requirements involved.
More atypical dwellings, like country homes and cottages, can also stay on the market longer as they attract a smaller clientele.
In the case of a multi-unit building or cottage with possibility for short-term rental, it could be useful to highlight potential future income to encourage a real estate sale.
5. Condition of property
A home that’s in good condition and well maintained with no major repairs on the horizon will sell faster than a property needing major renovations. It can attract more buyers with some eye-catching décor and up-to-date fixtures – which will reduce the time it takes to sell.
Investing in some minor renovations, such as a fresh coat of paint or replacing fixtures, can make a huge difference and help a property look more enticing to prospective homeowners who are encouraged to move faster or increase their purchase price.
6. Visibility
Visibility is a key element that can shorten the time it takes to sell. The more people who see a home listing, the better the chances of closing a deal. DuProprio.com is one of the most consulted platforms for property searches, logging millions of monthly visits and its app has been downloaded several thousand times since a new and improved version was released in January 20232.
You have to adopt solid strategies to attract prospective home buyers, such as organize one or more open houses, place a featured listing on DuProprio.com so it appears at the top of search results, or share it on social networks to reach even more people. These options significantly increase a listing’s exposure and, as a result, reduce the time to sell.
Anyone interested in experiencing a successful real estate transaction needs to have a good understanding of the factors that impact how long a house will take to sell. By focusing on a polished presentation, realistic pricing and leveraging platforms like DuProprio.com, it’s possible to attract more potential buyers and limit the time it takes to sell. Relying on this game plan, combined with promotional tools at your disposal, will maximize your chances of closing a fast and satisfactory deal, even without a real estate broker.
FAQ
What’s the best time to sell real estate?
The best time to sell is usually in spring and summer. Demand is often higher: families prefer to move before the school year starts and the milder climate boosts visits. Furthermore, it’s easier to introduce a home’s features when everything’s not snowy and gray.
While activities do slow down in the fall and winter months, not as many people house hunting can work in favour of a seller wanting to stand out from the competition.
How to reduce the time it takes to sell?
Reducing the time it takes to sell a property requires careful preparation and an efficient approach. First, it’s essential to set an asking price that fits the local market. Then, home staging and quality listing photos play a decisive role. Adopting targeted marketing strategies and hosting open houses also contributes to increasing the chances of a fast sale. Lastly, it’s in a seller’s best interest to quickly adapt and express a willingness to negotiate to close a deal faster.
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