How Long Will It Take to Sell My House?

There’s a lot of preparation and thought that goes into selling a house. All too often, where you go, what kind of house you buy next, and when all depend on the results you get from your existing transaction.

It makes sense, then, that one of the first questions clients ask is how long it will take for a house to sell. While we can’t give an exact timeframe in terms of days or weeks, we can show you some of the more nuanced factors that allow you to make your best estimate.

Today, we’ll do our best to help you understand what to expect from today’s ever-shifting market.

If you plan to sell your home, you need to attract the attention of today’s buyers. To learn more, read Our Complete Guide to Staging and Preparing Your Toronto House for Sale.

Review Current Market Trends

When selling a house in Toronto, you can pull up the recent market statistics from the Toronto Regional Real Estate Board (TRREB). The available data includes the average selling price overall, as well as individual averages for the various structures, such as condos, townhouses, and detached family homes.

You can see at a glance how many homes have sold compared to the previous month and year. And in answer to your question of how long it might take, you can also see the average number of days on the market.

A “fast” sale is all relative. If the average house takes 45 days and yours sells in 44, technically, you’re beating the market.
On the other hand, if you sell in 30 days but the market average is 14, that could be a sign that you are losing traction.

Every selling situation is unique, so there are no definitive answers. However, these industry-specific numbers can guide you as you determine your pricing and home preparation strategies.

Keep in mind as you review the data that correct interpretation is everything. Working with an experienced local real estate agent is your best bet to set yourself up for a predictably successful sale without sacrificing results.

Looking for even more design tips to make buyers fall in love with your home? Check out the posts below:

What Types of Houses Are Currently Selling?

Every market has its nuances, and some homes are always in more demand than others. A classic example is the post-pandemic market in Toronto. Until then, condos were in high demand from many buyers, including first-time home buyers, retirees, and newcomers to Canada. A listing would sometimes last only a few days before a buyer snapped it up.

Later, condo sales slowed down significantly, while detached houses (especially those in move-in ready condition) still tend to sell quickly, sometimes with multiple offers.

If you’re selling in a favourable market in a sought-after neighbourhood with a structure in high demand, there’s a good chance you’ll see a quick sale and satisfactory results. If the market isn’t on your side, you may need to refine your strategy to appeal to potential buyers. Comprehensive marketing is also essential to expand your outreach.

When and Why a Fast Sale Matters

There are several practical reasons to want your house to sell quickly. You’ve put a lot of time and effort into making your space look spectacular for all potential buyers who walk through.

All of these strategies can pay off, but living in a staged house isn’t always easy. A drawn-out selling process means more showings, more last-minute clean-ups before vacating for an appointment, and all too often, more stress.

A fast sale gets the hard part of the transaction over with, and you finally have some closure and confidence in your next steps. Perhaps most importantly, a faster sale almost always means earning the highest amount of money due to peak excitement over a new listing.

Optimizing Your Results

Some market factors are beyond your control. As a home seller, there’s not really anything you can do about the economy or interest rates. “It is what it is,” as the kids would say.

That said, there are plenty of things well within your control that could lead to the fastest (and best) possible results in today’s landscape.

Prepare with the buyer in mind

Cleaning, decluttering, performing all necessary repairs, and staging are all essential for a fast and profitable home sale. The trick is to do it for maximum buyer appeal, not for your own tastes. For example, you might feel that displaying family photos and personal souvenirs makes your house feel “like home,” but for whom? Not for a buyer!

Part of a successful sale means depersonalizing everything so the buyer isn’t distracted by your presence. Once again, a local real estate agent can help ensure all the correct pieces are in place.

Price for the market

It’s critical that you do not just guess at a price point when listing your home. The right number isn’t based on how much you love your house or even how much you paid for it. Instead, it’s all driven by the market and current buyer behaviour.

By starting with an accurate and up-to-date valuation, you stand to attract the most attention from buyers, which can lead to a successful transaction.

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Promote your listing far and wide

Once your house is fully prepared and well-priced, the next step is to ensure the right people know about it. Your real estate agent should come armed with advanced marketing techniques that make the best use of all channels, online and offline.

While no one can say exactly how many days it will take to sell your house, following a proven plan can help you optimize your results and take advantage of peak momentum.

Do you want a fast home sale in the minimum amount of time while being fully supported every step of the way? Our Toronto luxury real estate agents are here to help. Reach out to ana@asantos.ca or call us at 416.575.7317 to take the next steps.