930,898
Don't put too much weight in Days on Market. Different type properties have different average DOM. Different priced properties have different average DOM. Townhouses, detached, land, farms will all be different. DOM just means you should do some more research and try to figure out the reason it's staying on market longer than similar properties. I wouldn't assume you have any bargaining power unless you've seen the property, and confirmed the reasons it has above average DOM.
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Troy Erickson AZ Realt...
Chandler, AZ
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Diana White-Pettis
Upper Marlboro, MD
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Thomas J. Nelson, REAL...
La Jolla, CA
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Susan Haughton
Alexandria, VA
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Raymond E. Camp
Ontario, NY
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Nina Hollander, Broker
Charlotte, NC
1,610,602
The day the buyer hires me.
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Kasey & John Boles
Boise, ID
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Inna Ivchenko
Encino, CA
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Thomas J. Nelson, REAL...
La Jolla, CA
3,652,657
Praveen we have so many market segments that we follow every month and some DOM means something and others.......not so much. It really depends on the market.
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Kasey & John Boles
Boise, ID
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Jeff Pearl
Lovettsville, VA
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Thomas J. Nelson, REAL...
La Jolla, CA
755,731
If the home is new construction, the DOM really don't mean anything except the house is being built and a buyer cannot close until the home is completed.
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Kasey & John Boles
Boise, ID
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Jeff Pearl
Lovettsville, VA
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Thomas J. Nelson, REAL...
La Jolla, CA
1,713,581
Probably one of the most meaning less stats if it is an overall. However, I try to build in an automatic price reduction within two weeks unless the price is below market value.
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Kasey & John Boles
Boise, ID
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Thomas J. Nelson, REAL...
La Jolla, CA
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Susan Haughton
Alexandria, VA
5,152,194
Depends on the property and the market
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Kasey & John Boles
Boise, ID
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Jeff Pearl
Lovettsville, VA
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Thomas J. Nelson, REAL...
La Jolla, CA
1,157,841
Each market, transaction, set of parties, etc. is different.
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Kasey & John Boles
Boise, ID
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Jeff Pearl
Lovettsville, VA
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Thomas J. Nelson, REAL...
La Jolla, CA
5,280,900
The impact of high DOM depends on the individual property, the market conditions, etc. No hard and fast rule that would apply to all.
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Jeff Pearl
Lovettsville, VA
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Troy Erickson AZ Realt...
Chandler, AZ
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Thomas J. Nelson, REAL...
La Jolla, CA
1,748,977
There are too many other variables to consider.
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Jeff Pearl
Lovettsville, VA
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Thomas J. Nelson, REAL...
La Jolla, CA
8,118,303
In our market, over 60 days on the market would tend to indicate issues.
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Jeff Pearl
Lovettsville, VA
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Thomas J. Nelson, REAL...
La Jolla, CA
5,774,095
Praveen,
I wholeheartedly agree with Corinne Guest, Managing Broker . There are so many factors to consider depending on the marketplace. A
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Jeff Pearl
Lovettsville, VA
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Thomas J. Nelson, REAL...
La Jolla, CA
5,453,731
Depends on the property and the seller motivation. Some languish and sell at full price and some sell quickly at significant discount!
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Jeff Pearl
Lovettsville, VA
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Thomas J. Nelson, REAL...
La Jolla, CA
5,090,078
Depends on the sellers level of motivation.
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Jeff Pearl
Lovettsville, VA
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Thomas J. Nelson, REAL...
La Jolla, CA
2,838,547
Most excellent question thank you.....
At about the two week mark, unless there is a reason for not getting offers, interest etc. I believe the buyer may start to have more leverage.
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Kasey & John Boles
Boise, ID
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Thomas J. Nelson, REAL...
La Jolla, CA
6,655,809
Depends on the motivation of they seller, most long term listings are there for a good reason, the seller is fishing for a fool.
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Bob Crane
Stevens Point, WI
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Thomas J. Nelson, REAL...
La Jolla, CA
3,986,423
Depends on the property.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
2,245,107
Right now if a Buyer needs a lot of Seller Assist , I start my Property searches at 90+ DOM !
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Thomas J. Nelson, REAL...
La Jolla, CA
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Michael J. Perry
Lancaster, PA
4,321,985
Praveen Mudwani - the number of days on the market is always a dependent on the town, type of homes, price range etc.
I will not worry much about it.
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Jeff Pearl
Lovettsville, VA
5,460,727
Here, it's about 14 right now. It's a crazy market here in Charlotte and buyers will hit them 2-3% lower than list if over 14 DOM.
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Kasey & John Boles
Boise, ID
5,245,201
Depends on the market and the area..it shifts.
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Jeff Pearl
Lovettsville, VA
3,988,138
It depends on the market, the neighborhood, the price and the home.
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Jeff Pearl
Lovettsville, VA
1,646,171
Depends on the market. If the properties on average are sold in 30 days, the one that is 90 days would already have a bad stigma, unless it is a unique house.
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Thomas J. Nelson, REAL...
La Jolla, CA
2,703,587
Vacant property not owned by an investor, the leverage for the Buyer starts on Day One.
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Thomas J. Nelson, REAL...
La Jolla, CA
3,416,322
In this market i do not have homes stay around long enough to go down. In a normal or average market, adjusting the price for time on market can bring about a sale. Location and condition both affect that
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Thomas J. Nelson, REAL...
La Jolla, CA
259,105
A high DOM is generally a negative. However, I've seen sellers hold out for that "one" buyer that loves the property and thinks it's worth the asking price.
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Thomas J. Nelson, REAL...
La Jolla, CA
1,027,657
You have gotten a lot of great answers here; I'll add it also depends very much on market dynamics and what is typical for the specific market. Right now, we have neighborhoods where the only reason houses stay on the market longer than 1 day is because it takes that long to go through the multiple offers and get one ratified.
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Thomas J. Nelson, REAL...
La Jolla, CA
129,748
I agree, it depends on the property, the market and motivation of seller. Some properties take longer to sell depending on the uniqueness of the property or location and what type of clients will purchase the property
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Thomas J. Nelson, REAL...
La Jolla, CA
1,045,915
It would depend on the Market at that time but also the needs of the Seller. In general the longer a property is on the market the worse it is for the seller.. the assumptions always begin... What's wrong with it? Why didn't it sell, It must be overpriced etc etc.
Market well, price appropriately make sure the home has Price, Showability, Terms and Great Marketing it needs ALL 4 Praveen Mudwani
809,308
As many others have said, it really depends on a lot of factors and depends on the type of property, area, etc. -Kasey
5,173,696
3,419,403
The answer depends on the market, the location and condition of the home, the price, and the seller's motivation.
602,025
1,534,514
It can be 600 days, it doesn't matter. When the market is at low inventory the seller has all the power.
1,007,023
DOM doesn't really represent a shift - there are quite a few more variables to consider
3,074,289
4,800,282
1,618,024
2,283,514
You could have a seller who says, thinks he is the most negotiable owner out there. But if his price for the last four years has not moved a dollar lower, he is not. Waiting for one brave soul to make an offer keeps away lots of buyers who woould jump at the chance when the price is dropped, chopped and shows up in the upper end of a lower bracket. Over priced listings are the fault of agents who take them. Buyers who don't waste their time on them have the advantage in the real estate maret.
1,393,033
Depends on the seller. For some sellers, being on the market even a week is too long and they'll take any offers. For others, they're perfectly content to sit it out and wait for the holy grail of offers to come in.
979,796
Praveen - I hate to say it, but it really does depend on the market. If most homes are selling within 30 days, and you find one that has been on the market 60+, I would say that the buyer may have more leverage. However, it is also specific to the seller. Perhaps this seller is only listing their home and willing to sell if they get top dollar, and don't really care how long the home sits on the market.
4,273,331
142,796
It really depends on the area, the price, and the condition of the home. I think the number of days on the market can be attributed to a variety of things.
321,664
Extended DOM doesn't mean the buyer will get a deal. I found an older ranch home on land near my son's neighborhood. It's been listed forever and needs works. Not the typical home in demand for our market. Well, as soon as we go check it out.. The agent got a contract! UGG!!