Using Various Forms Of Data To Sell A Home

There are many different approaches you can take when selling a home. One of the approaches you can use is to invest in real estate data. Below are some of the specific data that can help you sell your home.

Number of Home Sales

The number of home sales in the area can help you understand the nature of the property market. You know you are in a sellers' market if homes are flying off the shelves. However, you are in a buyers' market if many people are selling, but few are buying. The market knowledge can help you set your price right.

Prices of Home Sales

In addition to the number of home sales, comparable prices can also help you set your price correctly. Consider a case where three-bedroom houses are selling for $400,000 in your area. In such a case, you will lose money if you list your three-bedroom house for $300,000. You might also fail to sell your home if you list it for $600,000.

Time on the Market

The number of days homes are taking on the market also shows the status of the property market. According to the property marketplace Zillow, the 2010 recession had houses taking an average of 140 days on the market. The situation had improved to an average of 65 to 93 days by 2018. Apart from helping you gauge the market, you can also use this data to understand your home sale timeline better.

Income Potential

The income potential for your home in particular and your neighborhood, in general, can also help you sell your home. Favorable income potential can attract investors to your property. The potential for rental income can help win over potential landlords. The potential for resale value can help attract those who would want to flip the house.

Consider a case where available data shows that properties are appreciating by double-digit percentages in your area. This data can help attract real estate investors who can purchase the property for resale.

Crime Statistics

Crime statistics is one of the most significant data for buyers with families. No one wants to live where criminals can attack their families at any time. Low crime statistics will help attract potential buyers. Statistics on declining levels of crime also help.

Of course, you cannot rely on data alone to sell your home. Selling a home requires a combination of different approaches. Consult a home selling agent to help you identify and deploy the best approaches possible.