Unsold Home? Don’t panic here’s what to do next to turn your luck around.
Unsold home? It's every home seller's nightmare. Your property was listed for months with no action. Don’t panic! Here’s what to do next to turn your luck around. These are the top reasons listings expire without selling:
1. Bad timing
2. Ineffective marketing
3. Poor impression
4. Overpriced
5. Wrong (or no) Agent
Other factors to consider: The Space Coast real estate market has changed. Investors are showing less interest in Florida properties due to increases in insurance and taxes. Additionally, the rental market in many areas is seeing reductions in rates due to a large number of available properties. What is the housing market like in Brevard County today? According to Redfin, in February 2025, Brevard County home prices were up 3.7% compared to last year, selling for a median price of $365K. On average, homes in Brevard County sell after 79 days on the market compared to 67 days last year. There were 858 homes sold in February this year, down from 905 last year. Contact me to find out more specifically what has been happening in your neighborhood.
Now it's time to examine what happened to determine what needs to be done next because there are buyers are looking for a home just like yours!
1. If there were no showings when your house was first listed, a 3-5% price decrease should have happened. The first two weeks are when a seller should see the most showing activity. No showings? It’s priced too high. Remember, the market will determine the price and shoppers are really doing the homework.
2. You had 10-12 showings with no offers. This may mean the photos and price aren’t scaring buyers away, but something isn’t right. I can usually tell you what the issue is. Just call and let's do some troubleshooting.
3. What was the feedback? Say the problem was paint color or flooring. Many buyers do not want a big project to handle right before moving in and this may be the real solution to help you get it sold.
4. Days on market- If home sat for 3-6 weeks without an offer, it’s time to consider a reduction. Be sure to know what the average days on market in your market. Also, was it listed during the holidays?
5. If you had rejected similar offers that were firm on price (but were lower than your asking price), reconsider what the buyers were saying about the price. These buyers have a different perception of the value of your home.
Selling a home is no easy task. Aside from the stress, time and effort, it costs money! If you have found yourself in the position of starting back to square one, it is essential to identify any problems with your home before trying to re-list it on the market. Talk to several trusted realtors to get a clear idea of what is going on in the market right now regarding your neighborhood activity. Do some investigating on your own, check out what has sold within the last six months on sites like realtor.com and do some comparing (use the filters to narrow it down). Remember, no two houses are the same. Check out the renovations, roof, etc. Condition of the home and price changes.
Here is a checklist to help you narrow down the problem down:
Call me and I will go down the line and help you do some serious troubleshooting.
- What homes have sold recently in your neighborhood?
- Re-address price point and value
- Does the home need maintenance?
- Are there any funky smells?
- How is the curb appeal?
- What is the location?
- Did the photos in your previous listing look great?
- What highlights were featured?
- What was the feedback? Feedback is critical so be sure your agent is keeping you on top of things moving forward.
- Was the home easily accessible?
To improve your chances of selling, consider:
Reassessing your pricing strategy with a local real estate expert.
Enhancing your home's curb appeal and addressing any maintenance issues.
Updating your marketing approach, including refreshing listing photos and descriptions.
Being flexible with terms, such as offering incentives or adjusting the closing date.
Consulting with a knowledgeable local real estate agent who understands the Space Coast market.
Remember, selling a home often requires patience and adaptability to market conditions. By addressing these factors, you can increase the likelihood of a successful sale,
Sometimes you need to try something different. Need a fresh set of eyes on this? I would love to help! Call me, Shannon Katz at 970-366-7644. Space Coast REALTOR®
Century 21 Circle, Indialantic FL. www.shannonkatz.c21circle.com
