From the Archives – Do Days on Market Matter?

This is a perennial debate/discussion that has taken on new meaning in this market. Jeremy Hart in Blacksburg beat me to renewing the debate and forced me to edit this brief post, that had been scheduled for more than a month …

Even More about Days on Market and Realtors Gaming the MLS.

In my opinion, Days on Market absolutely matter – it’s why Realtors market low Days on Market and why it’s one of the first questions buyers ask.

Now, however, there doesn’t seem to be the same stigma associated with a high “DOM” number – particularly when properties are frequently being seen having DOM of >300+ days.

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3 Comments

  1. Jeremy Hart October 16, 2008 at 13:17

    Jim – can’t believe I beat you to a post! All of the comments I received on the post were well written, and made convincing arguments. To me, it’s more black and white than that, and several commentors took me to task for that; I have a hard time understanding the correlation between how long a property has been on the market and value.

    It boils down to this, however – to me, it doesn’t matter. To my buyers, it absolutely does. In the end, that’s the only thing to remember.

    Reply
  2. Miami Title Company October 17, 2008 at 10:30

    Having recently taken the Florida real estate course, and post licensing course, it is my understanding that substantial days on market simply correlates to the listing price being to high for the current market. Many short sale clients come to me and wonder why they have had their property listed for over a year with no contract, yet they did not aggressively price it to sell, or really bring the price down to the market level.

    Reply
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