Monday Morning Market Report – Days on Market

August 9, 2010 by · Leave a Comment 

In a downward trending market, Days on Market are everything. The longer a home sits on the market, the lower the price you will get for it. Watch as Patrick talks about how pricing right at the beginning, gets your home sold for more.

1. Only 16% of homes on the market sell every month.

2. Only 3.28% of homes sell in the first 15 days on the market.

3. Of the total number of sold homes, about 24% sell in 15 days or less.

4. Homes that sell in the first 15 days, sell for 98.16% of asking price. Homes on the market longer than 120 days, sell for 88.63% of asking price.

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