How does Days on Market affect Sales Price?

Sales price is significantly affected by days on market.  On average, the longer a house stays on the market, the lower the sales price. The chart below shows the relationship between days on market and final sales price for homes in the DC Metro area.  If you would like this information for your neighborhood, fill out the form below, and I will send it to you.


NOTE: This is a very interesting chart. You can get a real sense of what the “market” (real people just like you who are buying and selling homes) considers any given house to be worth. Note the obvious trend – the longer a house is on the market, the lower the final sales price (as a percentage of original list price). This can be used by sellers to determine appropriate price reductions and by purchasers to estimate market value based on how long a house has been on the market. Read more about pricing here.

Want to know more about pricing?  Contact me:

First
Last
Sending