How Long Does It Take to Sell a Home During the Pandemic?

Dated: October 29 2020

Views: 259

How Long Does It Take to Sell a Home During the Pandemic?

If you’re like many people, you’ve recently realized that this is the best time to sell your home. Prices are up, buyers are out there looking (and not finding much), and interest rates are low enough to enable buyers to save thousands over the life of a loan.

But how long is the whole process going to take? Has COVID-19 thrown a wrench in every real estate transaction? Here’s what you need to know.

How Long Does It Take to Sell a Home During the Pandemic?

It’s true that home closings can take a bit longer than they did pre-pandemic. On average, a house can close in about 60 days as of right now. (Before the pandemic hit, it took an average of 26 days in January and 43 days in February.)

Why Does it Take Longer to Sell a Home During the Pandemic?

There are many reasons it takes a little bit longer to sell a home during the pandemic than it did before. Some of the most common involve lenders. Because interest rates are so low, many people are still trying to refinance their existing loans – and that creates a backlog for lenders that are processing applications left and right.

There are other reasons, too. Home inspections, social distancing requirements and even buyer walk-throughs are taking a little longer than average.

The good news? There are a lot of buyers looking for new spaces right now – but generally speaking, inventory is low. That means although it may take an extra week or two to reach closing day, it could be well worth it for sellers.

Are You Buying or Selling a Home in Vero Beach?

If you're considering buying or selling a home in Vero Beach, we're here to help. Check out our: 

You can also get in touch with us to learn how we can aggressively market your home to all the right buyers. We can help you sell it quickly - and at the right price - so call us today.

Blog author image

Chip Boyer

Chip is the IT Manager for Alex MacWilliam Real Estate. He handles the technology needs of the company as well as helping agents in their day to day problem solving.....

Latest Blog Posts

5 Off-the-Beaten-Path Adventures Near Vero Beach

If you're buying a home for sale in Vero Beach, you'll be glad to know that there's always something to see or do nearby. In fact, check out these five quirky adventures you can go on after you're

Read More

The 5 Best Places to Catch the Sunrise in Vero Beach

If you're thinking about buying a home in Vero Beach, you probably already know that this community has tons of great places to watch the sun come up – but where are the best spots? This guide

Read More

3 Great Vero Beach Attractions Worth Checking Out

If you're thinking about moving to Vero Beach, you're not alone – this is an extremely popular area. After you get settled in, there are several fabulous attractions everyone should see. This

Read More

5 Great Places to Take Your Grandkids in Vero Beach

If you're a grandparent who's thinking about retiring in Vero Beach, part of your job is scouting out the best places to take your grandkids when they visit. We've got you covered with the five best

Read More