How does “Days On Market” affect the selling price of a home?

Some of my buyers are in no hurry to purchase their home. They say something like, "We are willing to wait until a great deal comes along", or "The sellers will get desperate to sell after the home has been on the market for a long time". What does "a long time" mean? Until now, the answer to this question has been some agent’s made-up statistic or vague answer. Continue reading How does “Days On Market” affect the selling price of a home?

How Long Has This Home Been On The Market?

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:
Continue reading How Long Has This Home Been On The Market?