Your Home is Not Guaranteed to Sell
Posted By Adrianne Anderson @ May 14th 2024 2:00pm In: Seller Tips

Adrianne and I can guarantee that we will sell your house if you have infinite resources and no requirements for updates or timeframe or price. Most of our clients, however, have a bottom dollar and they have circumstances in their lives that provide challenges when selling their property. When we meet with our clients, we consider their timeframe, the condition of their property and the price they want to sell it for. Our goal is to help our clients sell their home while balancing time, price and condition in an ever changing market. If it doesn’t make financial sense or our clients don’t have the ability to make updates, we often list properties that need updates. If our clients don’t mind being on the market for a while, we often push the market price and allow more time. If our clients need to move or don’t want to be on the market long, we can list at a lower price. Whatever helps our client achieve their goals, we adjust our strategy to match our client’s needs. All that said, your property is not guaranteed to sell and the market data supports that more and more homes are failing to sell. 

First, let’s define Withdrawn and Expired properties. Withdrawn properties in the MLS are listings that sellers withdrew from the market before the listing agreement ended. Expired properties are properties that were listed for the amount of time agreed to on the listing agreement (typically 6 months) and for whatever reason, it didn’t sell in that timeframe. Both of these instances occur for a variety of reasons and it’s not always price driven. 

Going back to 2014, the number of properties that did not sell decreased every year up until 2022. That means, if you listed your property, it was very likely that it would sell if it was priced correctly and marketed well. In 2023, that changed. The number of Expired and Withdrawn properties increase compared to 2022. 

In 2024, that trend continues. In January 2024, there were 703 Expired and Withdrawn properties which means more properties failed to sell in the month of January 2024 that any other month in the last 10 years.  It was a 30% increase over January 2023. 

Let’s compare the Expired and Withdrawn totals from January 1st to April 30th from the last 3 years:

2021- 1,176

2022-1,686

2023-2,339

The number of properties that failed to sell in the first 4 months of the year has doubled since 2021.

Is this a doom and gloom article? Hopefully not. But it is a reminder that it’s important to have a trusted real estate advisor who is giving you good advice to help you sell your properties. The market does not guarantee that you will sell your home for the price you want or in the condition that it is in or in the timeframe that you want to sell. We’re here to help give you the best chance at achieving your goals! Please don’t hesitate to contact Adrianne and I if we can help you. We’d love to learn more about your circumstances and goals. We’ll provide market data and use our experience helping others to make the best possible plan for you and your family. We’re here to help!


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