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My Home Won’t Sell! Why?! Part II

Are you having difficulty selling a home in Duluth, MN?  If so, there’s a strong probability that one (or more) of the below reasons is why your home isn’t selling.  If you’d like to discuss your home sale with a local real estate agent, contact us so we can discuss in detail!

The Location

Location, Location, Location…Homes With A Bad Location Can Be Difficult To Sell! What’s an example of a home in a difficult location? Examples of tough locations of a home can include a homes located near railroad tracks, major highways, retail establishments, close to an airport or on a primary road.  Homes with locations that’re tough to work with generally will take longer to sell and do not sell for as much as a similar home situated on a quiet neighborhood street.

Lack of Flexiblility

Not accommodating showing requests, nixing any repair requests from an inspection, and not being open to any offer less than asking price are all examples of not being flexible or realistic when selling a home.  If this sounds familiar, it’s likely the reason why your home isn’t selling! Home sellers must be flexible and realistic when selling a home, bottom line.  If a home seller is not, there’s a strong chance their home will sit on the market. Being flexible and realistic during the sale of a home is an important tip for success!

Timing is Off

First and foremost, it’s important to understand that homes are sold all year long.  With that being said, there are certainly better times of the year to sell a home, depending on where you live. There are tons of reasons why real estate markets are different, even if they’re relatively close in proximity.  It’s possible that a reason why your home isn’t selling is because you’ve picked the wrong time to sell it. Take some time to speak to your real estate agent about what times are best in your community.

Market Conditions Aren’t Ideal

Selecting the right time of year to sell a home is important but so is the current state of the real estate market.  If your home is located in a real estate market that is experiencing a buyers market where a lot of homes are for sale, it’s possible that’s why your home isn’t selling or taking an extended period of time to sell. As your deciding when to sell your home, it’s not only important to consider not only the time of the year but also how the local market is performing currently.  A great numeric measure of the current real estate market conditions to ask your local real estate agent about is the market absorption rate. An experienced real estate professional can provide the market absorption rate in your area and also help you understand what it means.  If the local market conditions aren’t ideal to be selling a home, it could be the reason why your home isn’t selling.


Final Thoughts

The most frustrating thing for a home seller is their home not selling.  If your selling a home and it’s not selling, understanding why can be helpful so that things can be changed. We at Lake Superior Real Estate would be glad to help you with these challenges and get you into the new home of your dreams!