The Great Dis-connect: Days on Market


The Great Dis-connect: Days on Market
By Scott Rogers • February 11, 2009
In 2006, 1438 residential properties sold in Harrisonburg and Rockingham County, with an average of 138 "days on market". In 2007, it was 1248 properties with an average of 171 "days on market". In 2008, it was 936 properties with an average of 167 "days on market". There are currently 808 residential properties on the market with an average of 206 "days on market". Many people find it hard to believe that the average days on market decreased (ever so slightly) between 2007 and 2008. This is especially true when they talk to their friends and neighbors who are trying to sell their homes (with an average of 206 days on market). A few remarkable points: If all properties on the market today closed, the average days on market would like be over 300, as they have already been on the market for an average of 206 days. What we need to realize is that there are a lot of properties on the market now (with high days on market) that may never sell. This, as far as I can tell, is the best explanation of why the average days on market of closed properties is still hovering in the 170 day range. In this market it is imperative to price right, stage intentionally, market intensively, and follow up persistently. There are some homes that are languishing on the market, and you must take a pro-active, aggressive approach to selling your home to get it sold, and sold as quickly as possible. Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 24, 2024 (unless otherwise noted).
Comments (0) or Subscribe