If you have a home that you need to sell quickly in Philadelphia, you have a couple of options:
- Sell your home with an agent who understands your need to sell fast.
- Sell to a We Buy Houses company if your home needs repairs.
There are many reasons why you might want to prioritize speed over getting the highest price. For example, you may need to move quickly due to a change in your circumstances, such as a new job or an inheritance you can't afford to maintain. Regardless of your reason for wanting to sell fast, carefully consider your options so you know what to expect during the process.
To get cash offers right now, sign up for Clever Offers. A local agent will gather and compare offers for you from leading We Buy Houses companies. Your agent will help you negotiate to get the best price and provide you with a free home valuation so you know what your home is worth on the open market.
What to expect when selling a home in Philadelphia
In Pennsylvania, the fastest month to sell is typically May and the slowest is January.
To compare the market in Philadelphia to the rest of the country, pay attention to how it stacks up against the national average in two key areas:
- Median days on market: Number of days it takes to get an offer
- Average time to sell: Number of days on market until offer, plus the average number of days to close
Average time to sell a house in Pennsylvania
Median days on market
Average time to sell
Based on Realtor.com data (October 2022)
In Pennsylvania, the current average time to sell is 7.6% slower than than the national average.
» LEARN MORE: Average Time to Sell a House in Pennsylvania
How to sell my house fast in Philadelphia
Best option: Sell your house quickly with an agent
⚡ Quick facts: Selling with an agent
- Percentage of market value you’ll earn: 90–95%
- Average time to sell: 54 days
- Fees you’ll pay:
- Average listing commission: 2.81%
- Average buyer agent commission: 2.72%
- Average closing costs: 3.87%
Hiring a real estate agent gives you the best chance to maximize your profits, even if you're in a hurry. Your agent can provide valuable guidance and advice for a quick sale.
Selling with an agent does come with some risks, including the possibility that your home may not sell as quickly as it would with a We Buy Houses company. You may need to lower the price below market value if you want to sell faster than the average 85 days.
However, the overall profits are usually higher when selling with an agent, even when you factor in expenses such as your agent's commission, the buyer's agent commission, and closing costs. Learn more about the costs of selling a house in Pennsylvania.
Selling with an agent is best for…
- People with homes in good condition
- People with at least 30 days to sell
- People who want to sell fast while making the most money
Tips to sell fast with an agent
Local agents can lend you their insight and experience into the local market to help you cut down the time it takes to sell your home. That's why we've asked Brett Rosenthal, a Realtor with the Resolve Philly Group at Compass in Philadelphia, for his best tips to sell a home quickly.
- List the property as "coming soon" a few days before it's actually on the market. Rosenthal says this strategy can lead to "multiple parties being interested in the property before it goes live."
- Look at the neighborhood competition before pricing your home. Your agent will give you a list of recently sold homes to compare before pricing your home. Rosenthal says your goal should be to price your home slightly below the selling price of recently sold homes, but not so low that buyers see the price as a potential red flag.
- Consider accepting a cash offer slightly lower than the asking price. If you're fortunate enough to get a cash offer, Rosenthal says you should consider how much time it'll save you, even if it's a bit less than you'd like. "The seller could do an inspection ahead of time and that way cut out time after the home goes under contract," says Rosenthal.
💸 How cash offers work
Cash offers are the fastest path to closing because the buyer doesn't need to get a loan. The financial institution doesn't have to spend time checking the buyer's financials (known as the underwriting process). There's also less risk of the buyer's financial situation changing in a way that puts the sale at risk.
When listing with an agent, you can state your preference for cash offers. Keep in mind, though, that this might limit the number of offers.
Option 2: Sell to a We Buy Houses company
⚡ Quick facts: Selling to a We Buy Houses company
- Percentage of market value you’ll earn: 50–70%
- Average time to sell: 3–21 days
- Fees you’ll pay: None
If you're looking to sell your Philadelphia home as quickly as possible, a We Buy Houses company can close within a week. These companies are owned by investors willing to pay cash for your home. This means you don't need to wait for financing to be approved like you might with an individual buyer who needs a mortgage.
There is a trade-off for this speed. We Buy Houses companies typically only offer around 70% of a home's market value, as they need to factor in the cost of any renovations they plan to make. To get the best deal, get offers from multiple companies and compare them before making a decision.
The process of selling your home to a We Buy Houses company is usually fairly straightforward. After you contact the company, a representative will schedule a visit to tour the property. Once the walkthrough is complete, you'll receive a cash offer. You aren't required to accept the offer, so consider all of your options before making a decision.
We Buy Houses companies are best for…
- People who want to sell their homes in as-is condition
- Sellers with no iBuyer option in the region
- People with inherited homes (for more info, see our Stress-Free Guide to Selling an Inherited House)
How to choose a We Buy Houses for cash company in Philadelphia
There are many cash buyer companies in Philadelphia to choose from. Start your search by reviewing our top 6 We Buy Houses for Cash companies in Philadelphia.
When considering a We Buy Houses company, do your research and compare reviews from past clients. You'll also want to look at the company's ability to close on the sale of your home quickly. Some companies are able to close a sale within a week, while others may take up to a month.
Some sellers, after seeing what they might think is a lowball offer, wonder if We Buy Houses companies are a ripoff. Despite the lower offers, most cash buyer companies are legit investors. If the price is too low, you can always decline the offer. Always refuse to sign anything before seeing a firm offer, and walk away if anything makes you uncomfortable.
Why trust us
The author, Jon Stubbs, has spent hundreds of hours researching ways to sell homes quickly. This research includes interviewing real estate agents and representatives from iBuyers and cash buyer companies. The author has written dozens of articles on selling homes with a listing agent as well as non-traditional selling methods.
You can sell your home in about two months if you find an agent who understands your goals and reduce your home's price. If you want to sell in a matter of weeks, try a We Buy Houses company. Unfortunately, they'll likely only pay about 70% of the home's value. "Learn more about your options for selling your home fast in Philadelphia.
You can sell your home in a week or two to a We Buy Houses company, but they'll likely offer only about 70% of the value. You can maximize your price by selling with an agent, but you may need to reduce the price to sell quickly. "Learn more about selling your home fast in Philadelphia.