As I take potential home buyers around to look at properties, one of the questions that often comes up is "How Long Has This Home Been On The Market?". I just added a feature to my website that makes it easier for you to answer this question.
When you do a home search, you will now be automatically told how long a home has been on the market. On both the search result page, as well as the details for an individual home, there will be a bullet item indicating the number of days that a home has been on the market.
You might wonder why the answer to the question even matters. It can actually make a lot of difference! Here are a few reasons why:
- If a home is new on the market, not many people have looked at it. It might be a real gem, and if you like it and put in an offer quick, you’ll reduce the number of other "eyeballs" that see it.
- A new home on the market is as popular as it is ever going to be. If there’s an opportunity for a multiple-offer bidding situation, it’s more likely at the beginning.
- Homes that have been on the market for a long time could be a buying opportunity. There are more factors than one can possibly imagine involved in this, but a buyer could more likely get a good deal on a home that has been on the market for 10 months than on a home that has only been on the market for 3 days.
- You sometimes have to ask yourself, "Why has this home been on the market for 10 months?!"
Looking for homes that have recently been listed? This will help. Looking for homes that have been on the market for a long time? This will help. This is just one piece of data that I have available to help make sure you get the best deal on your next home (I have many other factors that I always use to determine a fair price for a home as well), and one more way that I’m giving you search abilities that no other Realtor around is doing. I want to be your Realtor!
By the way, I have a lot of people that come to my search engine every day and do the same search to see if anything new has shown up. You don’t need to remember to do that everyday! Contact me and I can set you up to automatically be notified when new homes show up that match your criteria! Stay tuned for an upcoming post on this feature.