You May Not Want To Skip Over That House Thats Been Sitting on the Market

When you see a house thats been sitting on the market for a while, the reaction is almost automatic. You start thinking:

• Whats wrong with it?

• Why hasnt anyone bought it yet?

• Am I missing something?

That mindset made sense a few years ago. But in todays market, you may actually miss out.

More Time on Market Isn't Automatically a Concern Anymore

A few years ago, homes sold in just a matter of days. Sometimes, hours. Anything that lingered longer than that raised concerns. But thats no longer the baseline.

Inventory has grown. Buyers have more choices. And homes are taking longer to sell across the board. Those are some of the reasons why the typical time it takes a home to sell has climbed this year:

And its not that 73 days is slow. Thats actually pretty normal for this time of year. It just feels slow because you heard so much about houses being snapped up in the buying frenzy a few years ago.

That shift alone explains a lot of what youre seeing. Its not necessarily that theres anything wrong with the house itself. Although, lets be honest, sometimes that is the case.

Most of the time today, a house thats taking longer to sell simply means:

• There are a lot of homes for sale in that area

• The seller priced a little too high at first

• The home didnt photograph as well online

• Buyers passed it over for flashier listings nearby

• The timing just wasnt right when it first hit the market

None of those are necessarily deal-breakers.

What Buyers Often Get Wrong About These Listings

Because even though you may assume a house that hasnt sold must have hidden issues, the reality is, thats not always the case. And, if the house does have issues, it'll show up quickly in your inspection.

Thats information you can use to negotiate. Not a reason to walk away automatically. And in many cases, thats where buyers find the best deals.

The key is knowing which homes that have been sitting for a while are worth a second look and which ones arent. Thats why working with a local agent makes a real difference. Theyll be able to look at disclosures and more to help you uncover hidden gems other buyers may overlook.

Bottom Line

A home sitting on the market isnt always a warning sign. Sometimes its an overlooked opportunity.

If you want help identifying which homes are worth a second look (and which ones to skip), talk to a local agent.