Average Time On The Market? (housing, home, area, school)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Location: Was Midvalley Oregon; Now Eastside Seattle area
13,053 posts, read 7,485,436 times
Reputation: 9782
Advertisements
Our home ~2 weeks. Wanted to get adequate showings, Spring 2018.
Our bare land, agricultural, highly desirable location, for agricultural use 2 blocks from highschool, took ~270 days. Because it is agricultural, a lot of back and forth ask/bid, cash purchase.
It is completely dependent on location and price. Even in a hot area, there are just less buyers for a home in the 700k plus market than the 200k one. It will sit on the market longer, generally, than the lower priced counterpart.
But again, reeeally depends. Is it priced competitively for the neighborhood and comparable houses?
If the MLS system has a loophole that agents can exploit to reset the days on market, it will be done. My local MLS is easily manipulated to reset the DOM number and even the "combined days on market" can't be trusted. If I run a report for average days on market in my MLS the number is meaningless.
Take any statistic quoted for average days on market with some degree of skepticism. I wish there was a separate counter for "days on market since last price change". That would be far more relevant.
I know there probably isn't a one size fits all answer, but what would you consider to be the average time a house is on the market before it sells? 60 days? 90 days? 180 days?
The information may be skewed nowadays because homes are often advertised before they hit the multiple listing services. Almost every home has a Coming Soon sign before it's listed. Realtor associations often keep detailed information on months supply and days on market which will be more useful in gauging the strength of your local market.
I know there probably isn't a one size fits all answer, but what would you consider to be the average time a house is on the market before it sells? 60 days? 90 days? 180 days?
There is no set answer but when you interview realtors they should be able to tell you the average time on market for your area and price range or you could use zillow and calculate when a house was first listed to when it was taken off the market and a sale was actually completed. Even in an area where homes are selling quickly, homes in high dollar range might take a lot longer to sell and that is perfectly normal.
Here I thought I was moving out to the boonies when I bought my land. Turns out a house around the corner from my lot and down the road from my first house was just sold. The cons are that I still think it's out in the boonies and it's a double wide manufactured home. The pluses were it has almost 4 acres (most of it sloped), a view to die for, and was really nice on the inside. It went for $165,00.
Between the time this house was relisted (after a few things were fixed) and the time it sold was one week.
I know a county in Maine where a broker won't take a listing unless it is for two years. Sellers will have a property listed with a broker for a year and when it expires they list with a different broker. Any "buyers" regard the mortgage payment as rent. They walk away and abandon the house when they leave. The house freezes up and the pipes burst. The average time between foreclosure and the bank putting it on the market is 545 days. That is two winters with no heat. The town of Millinocket auctioned off 16 homes for $48,000. That isn't each; that's TOTAL! A family of snowmobilers bought a four unit apartment and refurbished three of the apartments. The front bottom apartment was made into an entertainment lounge with big screen TV, games, a nice kitchen and bar. The three brothers who bought it could have put it on their Visa cards. Maine is an awesome and beautiful place with many recreational opportunities. I know someone who runs a medical transcription service and makes a six figure income. She lives in a beautiful home with a spectacular view. It would be a million dollar home in California or Colorado. $85,000 in Maine.
In 2020, half the adults in Maine will be over 65 years old. If we did not work, the place could not function. That is a statewide fact. Northern Maine has had more than half the adults over age 65 for decades already. Many schools are simply closing. People over 65 don't have kids.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
