How long will it take to sell your home? We’ve had a closer look at the numbers around home sales in Australia to give you a better idea.
The average Australian home takes 45 days to sell or 40 if it’s in a capital city, according to CoreLogic. Your home may take months more or weeks less depending on its appeal and condition, where it’s located and how the local market is behaving. If you don’t know how long your home will take to sell, buying a new home can be difficult.
To give you a better idea of what to expect, we’ve compiled average sale statistics by location and discussed the factors that can affect the time it takes to sell.
Average time-to-sell by capital city
Every Australian state has a distinctly different property market and your property may sell slower or faster depending on where you are. These are the average days on the market by capital city, according to CoreLogic:
- Sydney: 42 days
- Melbourne: 33 days
- Brisbane: 43 days
- Adelaide: 41 days
- Perth: 53 days
- Darwin: 75 days
- Hobart: 33 days
- Canberra: 42 days
CoreLogic also publishes suburb-level data that proves the region, suburb or even street you’re living in could have a huge effect on the time it takes to sell. For example, Badger Creek in Melbourne’s Yarra Ranges has an average sale time of less than 10 days.
Factors affecting time-to-sell
Countless other factors will also affect the time it takes to sell your property, making it impossible to accurately predict. That’s why it’s a great idea to speak to a mortgage broker as far in advance as possible, so that you can get your finances for a quick sale.
Your real estate agent should also be able to give you an estimated time-to-sell after considering the following factors:
- Buyer demand in the area.
- Appeal of the property to buyers.
- The price point of your property.
- Presentation and finishing of the home.
Keep in mind that every property sale is different, and your agent won’t be able to give you a definite sale date. Also remember that the quality of your real estate agent could affect the time it takes to sell, so pick a professional with positive testimonials, extensive experience in the area, a track record of success and knowledge of the market.
Even if you take the utmost care you can never be sure of the exact date your property will sell. Get in touch with our team to ensure you’ve got your finances in order well in advance – regardless of how quickly or slowly you sell.