How long is normal for days on market nowadays?
Started by YorkvilleMom
over 15 years ago
Posts: 23
Member since: Jun 2009
Discussion about
Just curious - started looking around again and wondering what the "cut off" is to be considered being on the market for a "long" time? Thanks!
Exclusive agreements for apartments are typically 6 months, with the idea that it is in contract and on its way to being sold by then. If the apartment is priced correctly and marketed appropriately, it shouldn't be a problem to sell the apartment within that time frame.
I once met a broker who had business cards that proclaimed "I can guarantee that your apartment will be sold within 60 days!" Given complete control of pricing, he's right.
(Matthew Russell - Brown Harris Stevens)
Average days on market are currently 105, so anything over three and a half months is over average. I'd consider anything that's been on the market for nine months "stale." It's sometimes not so much that these properties are badly mispriced as that they are slightly mispriced and badly staged.
ali r.
DG Neary Realty