How Long Does It Take to Sell a House? (Fall/Winter 2022) (2023)

How long does it take to sell a house? The answer inevitably depends on both the house itself and on market conditions

Statistics from the St. Louis Federal Reserve show that homes spent an average 50 days on the market in September 2022, up from a recent low of 31 days in May 2022. (For clarity, days on market is a metric that tracks the time between when a house is listed and when it goes under contact with a buyer.)

But you also have to consider time to close. If you go under contract with a financed buyer, data from Ice Mortgage Technology shows that the average number of days it takes to close a purchase loan is 50.

From list to close, you’re looking at just over three months (50 days to get an offer, and 50 days to close). And this doesn’t account for any time spent preparing to put the house on the market.

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How is the market shift affecting home sales?

With rising interest rates, home sales have been declining. According to the National Association of Realtors, pending home sales declined by 2% in August 2022 compared to a month earlier. Homes are receiving an average 2.5 offers in August 2022, down from 3.8 in August 2021. In a sign of just how competitive things are, 22% of buyers waived an inspection contingency, and 21% of buyers waived an appraisal contingency. Both of these represent a decline from a year ago, when sellers found themselves in a stronger position.

For perspective, while the market is slowing from its white-hot status last year, in historical terms things are returning to more normal conditions. NAR reported average days on market in July 2011 was 98 days, and in 2012, it was 68, which at the time seemed quick on the heels of the housing crisis.

Since 2020, low interest rates and other factors caused mortgage lenders to become particularly overloaded. This caused the average time to close to go as high as 57 days for purchase loans in Jan. 2021, historical numbers show. As interest rates rise, time to close has begun to normalize a bit.

Remember, these statistics of days on market and times to close are just averages — some lenders may be able to close faster, in as little as 30 days. Big banks typically have a lot more internal red tape to deal with before they’re able to fund a loan and write a check. On the other hand, smaller local lenders often have shorter closing times because they tend to be nimbler and more adept at navigating the quirks of their local market.

How long does it take to prep the home?

Pennie Carroll, a top real estate agent in Des Moines, Iowa, says the amount of prep time varies based on how much work and maintenance the homeowner has done in the past, but she estimates an average of about a month to get the house ready.

“The process usually starts with the agent coming to the house and providing guidance on what needs to be done — and, more importantly, what doesn’t need to be done,” she says. “Sometimes sellers can waste time on things that aren’t necessary or won’t do anything to help speed up the sale.”

“I can have a house staged, photographed, and listed within 48 hours,” says Jamie McMartin, a HomeLight Elite Agent and top-selling real estate agent in the Houston metro area. “But typically it’s a three- to five-day process.”

McMartin walks us through how she accelerates the selling timeline when appropriate:

Listing prep:

Staging, photography, listing description, 3-D tours, and for-sale sign in yard

3-5 days, but in some cases as few as 48 hours
Listing launches:

Listing goes live, ideally on a Weds., with a day or two buffer to generate showing interest

1 day
Showings and open house: Showings start available starting Fri. with open houses on Sat. and Sun.3 days
Offer review and counter offers: Ideally received by Sunday night and finalized by Monday at 5 p.m.2 days
Inspection period: Inspector completes report and amendments negotiated5-7 days
Appraisal period: Appraiser visits property and submits a detailed report to the lender8-10 (after buyer pays the lender an appraisal fee)
Appraisal-related negotiations (if necessary)1-2

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(Video) The Housing Market Collapse

How can I sell my house faster?

Whether you’re in a financial predicament or spontaneously moving to Paris in a week, you can always opt to sell your house faster by working directly with a cash buyer.

If you request an offer from an iBuyer company or house buying company without putting your house on the market, you can expect to receive an offer in as little as 48 hours and close in as few as one to three weeks.

Since cash buyers prefer to purchase properties “as is,” sellers can also lop off any chunk of time they normally would have spent on listing preparations.

The use of cash also eliminates any lender involvement, cutting out the lender-ordered appraisal and creating a clearer path to settlement.

See how the main aspects of the timeline compare below:

Sell directly for cashListing process
Sale timeline7 to 30 days66 day average; 18 to attract an offer; 48 to close the loan
Home preparations0 days30 days
Time to get an offerAs few as 48 hours18 days
Appraisal0 days8-10 days

Interested to request a cash offer? Consider starting with HomeLight’s Simple Sale platform, which provides cash offers for homes in almost any condition nationwide. Sellers can receive an offer in as few as 48 hours and close in as little as 10 days. No staging. No showings. No open houses.

How Long Does It Take to Sell a House? (Fall/Winter 2022) (3)

Running Out of Time to Sell Your Home?

Speed things up by selling for cash. HomeLight provides you an all-cash offer to buy your home, on your timeline. Receive an offer within a week and close in as little as 10 days.

Learn More

One thing to keep in mind is that the offer received from a direct buyer is likely to be less than market value, and sometimes significantly so. So you have to weigh a faster sale against a potentially lower offer amount.

Even with the market moving as fast as it is, you still have to have a house that is not only sellable but picture perfect. To create that buzz among buyers, we make sure the property is decluttered and staged correctly, so that the listing photos draw in the offers and the right buyers.

What factors impact how long it takes to sell?

A number of variables including where you live, supply and demand, buyer preferences, seasonality, and property condition can impact how long it takes to sell a house. Let’s take a closer look at some of the top factors below.

Location

Although national metrics provide a broad indication of how the housing market is performing and whether it’s in or out of balance, real estate varies at a local level depending on supply and demand for the area, housing needs for the area, resident income, net population influx or outflow, and employment opportunities to name only a few factors.

Below we’ve rounded up time to contract data for markets with data taken straight from the MLS so you can see how the numbers compare.

MarketMedian days on market (July 2022)Median days on market (July 2021)
Miami-Dade1717
San Francisco1512
Phoenix3328
Minneapolis3027
Boston2222

Market trends

When you have a high supply of homes for sale and fewer buyers, houses generally take longer to sell as buyers can be more choosy and aren’t under pressure to make quick offers.

As of August 2022, the inventory of unsold existing homes was 3.2 months — up from 2.6 months a year earlier, according to data from NAR. For reference, 6 months of supply is considered to be a balanced market. While we’re not there yet, the trend lines are moving in that direction.

With mortgage rates on the rise, it’s possible that demand could cool even more, as more would-be buyers delay their home search due to increased financing costs.

Check your local Realtor® board website for data on current supply levels, local home prices, and days on market trends to give you a more precise gauge of market temperature for your area.

(Video) FLORIDA Housing Market: Home Prices Drop to a 7 Month Low

Your real estate agent

Who you select as your real estate agent can play a big role in how fast your house sells. What you want to look at is the agent’s personal DOM. If an agent’s average DOM is lower than average, it’s a good sign that they price homes correctly to attract quick offers and come out of the gate with a strong marketing plan for their listings.

HomeLight’s agent platform tracks average DOM and how agents in your area stack up against their competition. Agents awarded with HomeLight’s “Sells Homes Fast” badge are among the top 5% of agents based on average days on market for seller transactions.

Your home’s condition

“Even with the market moving as fast as it is, you still have to have a house that is not only sellable but picture perfect,” McMartin says.

“To create that buzz among buyers, we make sure the property is decluttered and staged correctly, so that the listing photos draw in the offers and the right buyers.”

If your home is overdue for some repairs or renovations, the lack of maintenance can encourage lowball offers or deter buyers who are looking for a move-in-ready residence.

And if the inspection uncovers serious safety issues or problems with the home that could negatively impact its value, it could lead to price negotiations or delays. Inspection issues were responsible for 11% of delayed contracts and 8% of terminated contacts.

Seasonal factors

Timing your property to premiere on the market during peak seasons is likely to get your home in front of the right buyers faster.

“When kids are in school our market is usually ready to go roaring,” explains McMartin. Conversely, “When kids are on winter holiday breaks, we’re really pretty slow because the parents are trying to make sure they have fun and family time.”

The Houston-Galveston market also sees increased demand for homes with pools from January through September and an uptick in the search for vacation and Airbnb homes in Galveston during the months of February through October.

“Since it takes 30 days to close on the property, people begin looking in January because they want to be able to move in and enjoy the properties,” she explains. “In warm months, those properties tend to sell quicker and for a lot more.”

What is the best month to sell a house?

Nationally, the best month to sell a house fast is April, where data from HomeLight’s Best Time to Sell Calculator shows that homes listed in April sell 6 days sooner than average. The best time to sell a house for the most money looks to be March when homes sell for 2.2% more than the yearly average.

However, due to the seasonal factors discussed above, the best time to sell a house quickly varies from market to market.

CityBest month to list if you want to sell fastAverage time saved
ChicagoMarchSell 6 days sooner
BostonMarchSell 14 days sooner
Los AngelesMarchSell 4 days sooner
TampaFebruarySell 4 days sooner
CincinnatiMaySell 23 days sooner
New YorkJuneSell 12 days sooner
PhiladelphiaMaySell 6 days sooner
AtlantaMaySell 5 days sooner
Las VegasMaySell 4 days sooner
PhoenixFebruarySell 3 days sooner

Source: HomeLight’s Best Time to Sell Calculator

What can I do to sell my house more quickly?

While you might not be able to control things like the weather, a buyer’s financial situation or the state of the market, there are some actions you can take to help accelerate the sale.

Take care of routine maintenance and simple repairs.

Here are some of the typical pre-listing preparations you can get started on right away:

  • Reduce clutter.
    Consider using a service such as 1–800-JUNK–USA or Junk King to get rid of unwanted items. Take cardboard and other recyclables out to your nearest recycling center. Drop off donations to Goodwill and the Salvation Army. If you have a lot of items you’re not ready to part with, consider renting a storage unit so you can clear them out of your home for showings.
  • Make small, low-cost repairs.
    In the time leading up to listing, try to knock out as many of the easy, inexpensive repairs and improvements as possible. Replace mismatched cabinet pulls, touch up scuffed paint, or fix leaking faucets. If you have a long list, hire a handyman who can complete the work in one day.
  • Crank up the curb appeal.
    You never get a second-chance to make a first impression. That goes for property as well as people. So, now’s the time to pressure wash your home’s exterior and mow, mulch, and clean up your landscaping. Consider adding some flowerpots to add some pops of color to impress your open house guests.

Find a top real estate agent.

Carroll says this is the most effective tool you can have in your selling arsenal: an agent who knows the local market and can help you sidestep the common obstacles that can slow down the process. Be sure to check a prospective agent’s average DOM and compare it to local averages to gauge their track record for successful sales. You can contact a Realtor as early as three months before listing.

Resist the urge to do major renovations.

Spending time and money on major upgrades has been shown to not yield a higher return on the final sale price. Remodeling Magazine reported that the average payback for 22 common professional remodeling projects in 150 major U.S. markets was only 58.93% in 2022. That means your renovations likely won’t translate into a dollar-for-dollar increase in home value. So, if your bathroom remodel cost $25,000, you may be looking at more like a $14,000 increase in property value.

Enlist any contractors early, if necessary.

Renovations cost not only money but time. Talk to your real estate agent about what your home needs; however, keep the estimated length of your project in mind:

Kitchen remodel6 weeks
Bathroom remodel4.5 weeks
New roof5 days
New siding2 weeks
Wood flooring1 week (+3-5 days for wood to settle)
Exterior house paint1 week

Source: HomeAdvisor data collected from thousands of users / homeowners nationwide

In addition, rising material prices have hiked remodeling costs to the tune of 35% for some popular selections, while shipping and permitting delays have added weeks to most renovation timelines.

A recent survey found that 78% of construction owners believe materials will be more expensive than they were in 2021, and 66% are concerned about materials being delayed.

(Video) It Started: The Housing Market Is Collapsing

If you’re planning for any work to be done to the house, line up any necessary contractors as soon as you decide to sell.

Make sure the baseboards are showing.

Buyers like open, spacious rooms that are easy to navigate. With this simple tip, Carroll encourages sellers to declutter and edit rooms with too much furniture crammed into the space.

Consider a pre-listing inspection.

A pre-listing inspection provides the opportunity to identify any potential issues early on, so you can get a head-start on any necessary fixes prior to the buyer’s inspection.

Since sellers pay the inspector for this pre-listing evaluation, consult with your agent to determine whether a pre-listing inspection is a worthwhile endeavor and a necessary expense.

Get the price right.

How you price your home will in large part determine whether your home flies off the market or sits without interest for months. Price your house too low and you could undersell it to a great degree. Price too high and you may miss out on buyer interest while your listing is fresh, leading to a drawn-out sale and eventually a discounted offer.

Not sure what your home is worth? Start with a free price check from our Home Value Estimator tool. Then, follow up with the opinion of a top local agent.

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To determine home value, your real estate agent will conduct a comparative market analysis (CMA) that analyzes local comparable sales or “comps.”

Comps are homes similar in size, amenities, structure, and age to your own that recently sold in your area. Real estate professionals and home appraisers use comps as a reference point for the subject home and then make dollar adjustments based on competitive differences. The analysis will take into account significant features that drive or reduce value.

Be flexible with scheduling.

If you want to sell fast, Carroll suggests accommodating any requests for open houses, showings, inspections, and appraisals.

Keep emotions at bay.

“It’s really easy to be very emotional about a property — especially if you’ve lived in the home a long time,” says McMartin. But, once you decide to sell, it’s important to view your home as a business asset to be leveraged rather than a family heirloom to be preserved or passed down.

“You want to stage, price and get your house into the market at a time and in a condition that attracts buyers,” she says. “So, take your seller hat off and put your buyer hat on.”

FAQs about the time it takes to sell a house

How many showings does it take to sell a house?

Real estate experts estimate most homes are shown between 10 and 25 times before they sell. Because buyers are scanning MLS for new listings in hopes of snapping up a great property in a market with limited inventory, your home may require fewer showings or the viewings may take place over a weekend or only a few days.

How fast can you sell a house?

If you need to sell faster than the average 65 days from list to close, an alternative is to request a cash offer. By using a platform such as Simple Sale, you can answer a few questions about your home and get an all-cash offer on your house in as few as 48 hours. If you choose to accept the offer, sellers have the ability to close in as little as 10 days.

How long does it take to sell For Sale By Owner?

According to NAR, about 7% of homes were sold For Sale By Owner (FSBO) without the assistance of a real estate agent in 2020. FSBO properties sold a week faster than agent-listed homes, largely because 57% of FSBO sellers already knew their buyer as a friend, neighbor, or relative. FSBOs also statistically sell less than agent-assisted sales. Last year, the median price of FSBO homes was $260,000 compared to $318,000 for agent-listed homes.

Homes are still selling even as the market shifts

The decision to sell your home usually starts with where you’re going next. Maybe you’re upsizing to accommodate a growing family or multiple people working from home, or retiring and moving to be closer to the grandkids. In other words, people will always be looking to move as their needs change. So firm up those plans for your next destination, and get ready to move!

(Video) Housing Outlook 2023: Is the U.S. sliding into a ‘house recession’?

Header Image Source: (Trinity Nguyen / Unsplash)

FAQs

How long does it take to complete a 2022 house sale? ›

Having said this, the average time taken to sell a house is around 4 to 6 months, with it being closer to 4 months in a 'hot' market and over 6 in a 'cold' market.

Is 2022 a good year to sell property? ›

The property market is remarkably stable for all house types at present, with there being a steady, gradual increase in property values from October 2021 to June 2022.

How long does it take to move house with no chain 2022? ›

It could take up to 4 weeks to complete the conveyancing process when buying a house with no chain.

How long does it take after 2022 to exchange? ›

Exchange of contracts can be moved towards once the buyer and their house repayments lender are happy with the outcome of the searches. Generally, it takes 3 to 6 weeks for the searches to be returned to the conveyancer and then it can take a few weeks for the conveyancer to create the report.

Why do house sales take so long 2022? ›

Reason 1: A large Backlog Of Housing Transactions

To put this into perspective, this is 44% more than at the same time in 2019. One of the key factors in this was the huge pent-up demand driven by COVID-19.

Will house proces go down in 2022? ›

This could in turn push average mortgage rates upwards of 8% (while still historically low, that is more than double the 1.6% rate recorded at the end of 2021) Based on this data, Capital Economics has forecast house prices to rise throughout 2022, before falling by 5% in 2023.

Should I sell my house before the market crashes 2022? ›

You may be asking should I sell my house in 2022? Overall, 2022 is a good time to sell a house. And, I predict 2023 will be a good time, too. The driving factor which will continue to support real estate values is the high demand for entry level and mid-tier homes.

Should I buy a house in 2022 or wait? ›

Unsurprisingly, many home buyers are left wondering: Is buying a house still worth it in 2022? The short answer is yes. If you're financially ready, buying a house is still worth it — even in the current market. Experts largely agree that buying and owning a home remains a smarter financial move than renting for many.

When should I sell my home in 2022? ›

Fall 2022 and beyond could be a great time for sellers, or more of a market equilibrium may develop. Rather than trying to play the market, consider the cards you currently have in your hand: you know now is a good time to sell because competition is high and inventory is low.

What takes the longest when buying a house? ›

The conveyancer will run requests for information, look at survey findings and coordinate dates for the exchange of contracts. This can be the longest part of the process of buying a home. There will be lots of back and forth between your conveyancer and the seller's, as well as with the estate agent.

Do no chain houses sell quicker? ›

Purchasing a property with no chain is likely to be faster than a property that is involved in a chain, but just how quickly could the transaction go through? The average timescale from offer to completion for a property with no chain is around six weeks.

How long are house sales taking to complete? ›

If selling to a first time buyer with a mortgage, it should no longer than 10 weeks (70 days) from offer acceptance to completion.

How long does it take from offer to completion 2022? ›

Completion normally takes place 1-3 months after you receive your mortgage offer. Again, this can vary depending on whether you're part of a chain, and how fast your solicitor is. 'Completion day' is often the day you can pick up the keys and move in.

How far in advance do you get an exchange date? ›

In most instances, exchange of contracts will usually take place anywhere between one to four weeks prior to completion date. It is, however, possible to exchange contracts and complete on the same day, but it's not for the faint of heart.

Can you exchange and complete in 2 weeks? ›

How long between exchange and completion? The length of time between exchange and completion is whatever all the parties involved agree to, but it's usually one or two weeks. That gives everyone time to organise themselves for completion: Buyers and sellers can confirm removals and start packing.

What is the slowest month to sell a house? ›

Sellers can net thousands of dollars more if they sell during the peak months of May, June, and July versus the two slowest months of the year, October and December, according to a 2022 report by ATTOM Data Solutions.

What month do most homes sell? ›

Spring (March-May)

The spring months are often considered the best month to sell a house. In fact, across the country, the first two weeks of May are often the busiest and most lucrative time for sellers. The spring has warmer weather, longer days, and lush landscaping opportunities that boost curb appeal.

At what point do most house sales fall through? ›

Reasons why pending home sales fall through
  • The buyer's mortgage application is declined.
  • Major issues surface during the home inspection.
  • The buyer is inexperienced.
  • The home gets appraised lower than the sale price.
  • The buyer can't sell their existing home.
  • There are property liens or a title issue.
27 Jun 2022

Will house prices fall in 2022 2023? ›

As economic conditions continue to impact the country, industry experts are suggesting there will be less demand in 2023 which will likely result in house prices falling.

Will house prices Drop 2023? ›

'House prices will fall 5% in 2023 but some markets will outperform' - FTAdviser.com.

Are house prices still rising in 2022? ›

Expecting a 3.5% increase in average house prices during 2022, as quoted in the Sunday Times, 5th December 2021. Expecting a 3.5% increase in average house prices during 2022, as quoted in the Sunday Times, 5th December 2021.

Who is predicting a housing market crash in 2022? ›

And Fannie Mae predicts home sales to drop 16.2% by the end of 2022.

What should you not fix when selling a house? ›

Fixing cosmetic damage

Sure, peeling paint, a weathered back door and scuffed floors may make things look a little run-down, but if you are looking to save some cash on repairs and renovations, you'll rather want the money to be put to good use.

Why you shouldn't buy a house right now? ›

“You cannot time the market, and a home should be a long-term investment. A year from now, even if prices come down slightly, mortgage rates will most likely be higher. In the end, that will cost a buyer more monthly if they are financing.” Rising rates can spell serious trouble for your monthly budget.

Why is it so hard to buy a house in 2022? ›

It's still a seller's market, and bidding wars are having a big impact. It's been a brutal year for homebuyers. A combination of surging demand and a persistent shortage of inventory has heightened competition and led to double-digit price growth.

Will it be cheaper to buy a house in 2022? ›

Both the housing market and the cost of construction materials skyrocketed in 2022. The typical home sale price jumped by 17%, while the cost of construction materials increased by 12.2%. While some home buyers may be surprised by housing prices, the cost of construction remains high.

Will 2023 be a better year to buy a house? ›

Home Prices Will Likely Drop

As interest rates have risen throughout 2022, home sales have seen a sharp decline. Fannie Mae has forecasted that total home sales will reach 5.64 million in 2022, an 18.1% drop from 2021; in 2023, that figure is expected to decline again to 4.47 million, a 20.7% decrease from this year.

Should we sell our house now or wait? ›

With continued supply shortages and high buyer demand, now is a good time to sell your home. And with interest rates on the rise, it may be better to sell sooner rather than later — if rates spike much more, some prospective buyers may retreat from home shopping.

How much over asking price should I offer on a home 2022? ›

Some real estate professionals suggest offering 1% – 3% more than the asking price to make the offer competitive, while others suggest simply offering a few thousand dollars more than the current highest bid.

Is 2022 a good time to flip houses? ›

323,465 homes were flipped in 2021, the most homes flipped in a single year since 2006 and a 26% increase from 2020. Enthusiasm for home flipping grew in the first quarter of 2022. 114,706 homes were flipped, up nearly 7% from the previous quarter.

What is the quickest a house sale can go through? ›

If the buyer doesn't want searches, then this will also speed the process . And I've seen some of these sales complete quite easily within 14 days. Some can even complete in two or three days.

Is it possible to buy a house in 3 weeks? ›

It's possible to close faster than the national average closing time of 49 days. In fact, some buyers close in 30 days or less, though you'd need to have a very straightforward mortgage application and no complications with the sale to do so.

Is 30 days a long time for a house to be on the market? ›

Anywhere from 10 days to four months is common, depending on the local housing market and how long it takes for other houses in the area to sell, although many agents don't like to wait much longer than 30 days if there's no action.

What makes a house sell quicker? ›

One of the top factors in a quick sale is price. Your property needs to be priced correctly; however, this can often be difficult to determine. You may have an ideal price in mind but make sure this is in line with the price of similar properties in the area, so you don't inadvertently push potential buyers away.

What types of houses sell fastest? ›

The price is right

Lower-priced starter homes are winning most buyers' hearts. Homes listed at between $200,000 and $250,000 were sold in 83 days on average, significantly faster than in any other price range. And of course the more expensive the home, the fewer buyers can afford it.

What are the 3 main searches when buying a house? ›

The 3 main searches done when buying a house

Planning issues. Building control issues. Highways issues.

Who decides completion date? ›

Who decides the completion date? It's up to the buyer and the seller to agree on the completion date (and the other parties if there's a chain). These negotiations usually take place through the estate agent as they can talk to everyone directly.

What time do most house sales complete? ›

What time am I likely to complete on completion day? Completion can take place at any time on completion day, but is most commonly around midday. It can be as early as 10:00 am but this is usually where a property is already vacant and there's no property chain.

How long does it take to move house 2022? ›

From the time a home is marked sale agreed, it currently takes 150 days on average to reach that all-important completion day. But that's 50 days longer than during the same period in 2019.

Why is it taking so long to hear back from a house offer? ›

Unfortunately, you may not hear back at all after you submit an offer to a seller. This may be because they had many other (and perhaps better) offers to consider, or because your offer was so low they didn't think that a counteroffer would be worth their time.

How long does it take once an offer is accepted? ›

Completion day often occurs 7-28 days after exchanging contracts. However, although uncommon, it is possible to exchange and complete on the same day. There are a number of issues that could cause delays.

How long after signing contracts do you get keys? ›

It typically happens around 7 to 28 days after the contracts are exchanged, however this can vary. During your completion day, funds will need to be transferred to complete the house sale.

What is the quickest time to exchange contracts? ›

How long does it take to exchange contracts? It usually takes around eight to 12 weeks to reach the point where you're ready to exchange contracts. The actual process is quite speedy, requiring a phone call between the buyer's and seller's solicitors. What happens after the exchange?

Does everyone exchange contracts on the same day? ›

In practice many people do indeed end up exchanging and completing on the same day, and for many this is perfect, for example where there is no housing chain and all parties are looking for a swift transaction, or cash buyers.

What is the longest time between exchange and completion? ›

There is no set time between exchange and completion.

It confirms the parties to the transaction, the property being bought or sold, the agreed sale price and the date that the sale price will be paid to the Sellers, (known as the completion date).

How do you speed up exchange of contracts? ›

Speed up conveyancing: Things you can do
  1. Instruct your conveyancer and lender as early as possible. Planning ahead can help you get in your new home quicker. ...
  2. Buy or sell at auction. ...
  3. Sort out all your documentation early. ...
  4. Complete everything quickly and efficiently. ...
  5. Don't delay if issues arise. ...
  6. Communicate well.
14 Jul 2022

How long are house sales taking to complete now? ›

Average time to buy and sell a home
AVERAGE TIME TAKEN TO BUY & SELL A HOME
From searches being ordered to exchange of contracts58 days
From exchange of contracts to completionSame day to 4 weeks
Total time from new property listing to completion of saleAround 6 months
4 more rows

How long does the average house sale take to complete? ›

A good rule of thumb is to expect the sale process to take 12 weeks from when you find the right home. But it varies depending on a number of factors. It could be as quick as six weeks and it could take up to three months.

How long are house sales taking to complete at the moment? ›

Completing the Sale

Completion day tends to take place between 7 and 28 days after the exchange of contracts. Completing the sale means that the transfer of ownership is legally binding. On completion day, your conveyancer will transfer the final funds to the seller. Once this is done, the property is yours.

How long does it take solicitors to agree a completion date? ›

The date of completion is one that is agreed by both parties prior to exchange, commonly one or two weeks later. It is the date on which full payment is made to the seller, ownership transfers to the buyer and moving day takes place.

How far in advance do you get your completion date? ›

As a guide, you'll usually get a completion date between one and four weeks after the contracts are exchanged, and you become legally bound to buy the property.

How long does it take to hear if offer is accepted? ›

How Long Do They Have To Respond? Legally speaking, there isn't a time frame sellers must respond to your offer. However, it's an unspoken rule in the industry that sellers and/or the listing agents should respond within a few days, with 48 hours the norm.

What month do homes sell the fastest? ›

Sellers can net thousands of dollars more if they sell during the peak months of May, June, and July versus the two slowest months of the year, October and December, according to a 2022 report by ATTOM Data Solutions.

Why do house sales take so long to complete? ›

A property chain is where a group of home buyers and sellers are connected. As a house buyer that means your purchase is dependent on the seller buying their next home. This chain can be the source of delays, especially if it's long and complex. Delays may include potential buyers dropping out.

Why is the sale of my house taking so long? ›

However, what often causes significant delay is if a Mortgage Offer is issued and there might a specific clause requiring further investigation or alternatively there may be errors in the Mortgage Offer such as, the address being incorrect, or there is a particular mortgage condition that had not been anticipated by ...

Is selling a house a long process? ›

Here's how long you can expect it to take — and some tips on how to speed things up (and still get a great price). In 2022, the average time it takes to sell a home in California — from listing through closing — is approximately 72 days. That's 37 days to get an offer, plus the typical 35-day closing period.

What size house sells the fastest? ›

A home that is 1,500 to 2,000 square feet will typically sell in 86 days. Larger homes will generally take more time to sell. Homes priced between $200,001 and $250,000 usually sell faster than similar homes priced at lower price ranges.

What day of the week are most houses sold? ›

Is spring still king?
Fastest Sale
Metro Area*Best Day of the Week for a Quick SaleMost Common Day of the Week for Home Listings
United StatesThursdayThursday
New York, NYWednesdayTuesday
Los Angeles, CAThursdayFriday
23 more rows
14 Jun 2021

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