Listing With Long Days On Market

Listing With Long Days On Market

In today's market it is very important for buyers to look at how long a Property has been sitting on the market (DOM). In many cases, higher-than- average DOM may indicate the property either has been overprices or that expensive repairs are needed .

However, the market is different in different areas or price points. Depending on the local housing market, a listing may be considered "stale" if the DOM is more than 21 days. In other areas, homes may take as long as four or five months to sell because of the uniqueness of the location, time of the year or other factors. It can also mean there was an offer on the home at some point and it fell through, reason could be inspection didn't go well or financing fell through. 

A property with outdated interior, or poorly maintained landscaping, or peeling exterior paint may be a factor and there is maybe a deal to be made on an otherwise sound house.  Some buyers want a move-in-ready home others are willing to get a deal with a home needing some work. 

Karin Waterschoot-Perez Headshot
Phone: 614-774-1741
Dated: January 16th 2020
Views: 140
About Karin: Executive Vice President of Sales Experienced Realtor, Karin Waterschoot-Perez, currently serves ...

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