Thinking about selling your home in New Jersey? Well, now might be the perfect time! Data from New Jersey Realtors shows that the median sale price of a single-family home in 2023 was $500,000, which is a 12 percent increase from year before. Homes are also typically selling for 1.2 percent above their list price. However, it does take some time for homes to sell, with the average time on the market being over a month. If you're looking to sell your house fast, keep reading for some tips.
How fast can you sell your home in New Jersey?
On average, homes in New Jersey spend about 42 days on the market before selling. But remember, this is just the time it takes to go into contract. You'll still have to wait for the buyer's mortgage to be approved before closing. Things tend to move quicker in the summer, with homes spending only 31 days on the market in July and August.
Need to sell even faster?
If you're in a hurry to sell, there are ways to speed up the process. Keep in mind that selling faster might mean selling for a lower price. Consider these options:
Real estate agents: A skilled agent can help you sell faster by pricing your home competitively and making the process smooth and efficient.
iBuyers: These companies also offer quick sales, but at a lower price. It's a convenient option if you need to move fast.
Cash buyers: These companies buy houses for cash and can close the deal in just a few weeks. However, they usually offer a lower price than the market value.
Selling your home fast for fair market value
Hiring a local real estate agent is the best way to maximize your profits when selling your home. They can help with pricing, marketing, negotiating, and more. Here are some things to consider before listing your home:
Pricing: Your agent will help you set the right price for your home by looking at similar homes in your area.
Upgrades: Big renovations may not be worth it, but small improvements can increase your home's value.
Repairs: Fix any obvious issues that buyers might notice, like leaky faucets or cracked floors.
Staging: Consider paying a professional to stage your home to make it more appealing to buyers.
Selling As-Is: If you sell your home as-is, you won't make any repairs, but it may turn some buyers off.
Disclosures: You'll need to fill out a property condition disclosure statement and provide documents about your homeowners association.
Closing day
Selling a house comes with costs, including paying off your mortgage and real estate agent commissions. You'll also need to cover closing costs, which may include transfer taxes, seller concessions, attorney fees, capital gains tax, and title insurance.
Find a trusted real estate agent
Don't go through the selling process alone. A local real estate agent can guide you through the process, help you determine your home's value, and get you the best price possible. If you're in a hurry to sell, consider working with a cash-homebuyer or iBuyer.