How fast are homes selling in Cuyahoga County OH? Not as fast as you might hope.
If you are looking to sell your Cuyahoga County OH house, and especially if you need to sell your house in Cuyahoga County quickly the average time a house sits on the market is very important information. This will be one critical component when determining how fast you can sell your home if you are listing it…
What stats help determine how long it will take to sell a home?
When estimating how fast homes are selling in Cuyahoga County OH or any other market you can use average days on market plus average days to close as a prediction.
Phase 1: Average Days on Market (Days to an Accepted Offer)
Average days on market is the number of days that a listing is listed on the local market. In other words, its the number of days it takes for a seller to get and accept an offer. This stat will tell you how much time you need just to get to an accepted offer.
Please be clear that the average days on market is NOT the time it takes to close the sale. It is just the time it takes to get an accepted offer.
Phase 2: Average Days to Close After an Accepted Offer
The average time to close after an accepted offer, which is the number of days AFTER an accepted offer until you actually get your money and walk away from the home is typically an additional 30-60+ days. This means it takes . This is due to inspections, lending requirements and appraisals.
This article from the The Balance predicts 30-45 days, but from our vast experience with closings delays will push this further most of the time.
How fast are homes selling in Cuyahoga County OH?
According to Redfin Market Insights, the average days on market for Cuyahoga County OH was a slow 83 days for the period around January 2020.
So how fast are homes selling in Cuyahoga County OH? The average days on market of 83 plus an additional 30-60 days for the closing process should answer the question “how fast are homes selling in Cuyahoga County?” Using these metrics it can be expected that from the time a house is listed, gets an accepted offer and closes it could reasonably be expected to take about 113-143 days (~3.76 -4.76+ months).
Conclusion
If you need to sell your house quickly you might need to determine if you can afford to wait 3-4 months or longer? If not, then you may want to consider other options, such as selling to a cash buying company. These companies can close in as quick as seven days. Get a cash offer today to see if it is a good option. You have nothing to lose.