What does the term "marketability" refer to in real estate?

The term "marketability" in real estate specifically refers to the extent to which a property can be sold. This encompasses various factors that influence how quickly and effectively a property can attract potential buyers and close a sale. Marketability is impacted by aspects such as location, price, property condition, and current market conditions.

A property that is deemed to have high marketability is typically well-positioned in terms of these factors, making it more attractive to potential buyers. Conversely, properties with low marketability may struggle to sell due to various issues, including adverse conditions or overpricing.

Understanding marketability is crucial for real estate professionals as it guides pricing strategies and marketing efforts to enhance the likelihood of a successful sale.