5,257,589
In Charlotte, it depends upon the price point.
Under $300K homes are expected to 'fly off of the shelves,' while with $500K+ homes, there is an expectation for longer DOM.
-
Peter Testa
Danbury, CT
-
John Pusa
Glendale, CA
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Michael Jacobs
Pasadena, CA
-
Barbara Todaro
Franklin, MA
-
Francine Viola
Olympia, WA
-
Richard Weeks
Dallas, TX
-
Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
-
Mimi Foster
Colorado Springs, CO
1,847,621
Yes, shows you if you have an overpriced turkey or not.
-
Francine Viola
Olympia, WA
-
Peter Mohylsky, Destin...
Miramar Beach, FL
-
Kasey & John Boles
Boise, ID
-
Candice A. Donofrio
Fort Mohave, AZ
-
Kathleen Daniels, Prob...
San Jose, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
4,583,790
So many factors to consider. In certain areas of the market it definitely makes a difference.
-
Peter Testa
Danbury, CT
-
John Pusa
Glendale, CA
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Mike Baltierra
Eastvale, CA
-
Richard Weeks
Dallas, TX
-
Kathleen Daniels, Prob...
San Jose, CA
-
Mimi Foster
Colorado Springs, CO
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
913,968
Depends on the property. Some people think that 90+ DOM means they can make lowball offers without even going to see the property. Many/most of those " buyers" are just fishing for deals. Even agents automatically think something is wrong with a property if it's been on market over 90 days. i would bet houses would still same for same prices if DOM was eliminated from the MLS.
-
Mike Baltierra
Eastvale, CA
-
Teri Pacitto
Westlake Village, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
1,753,413
Yes and no. They are kind of an outlier in a market report around here. The house, condition, price, neighborhood, neighbors, neighbor's dog, availability for showings, and so many other things can keep a house on the market longer than one a few blocks away.
-
Teri Pacitto
Westlake Village, CA
-
Candice A. Donofrio
Fort Mohave, AZ
-
Kathleen Daniels, Prob...
San Jose, CA
-
Mimi Foster
Colorado Springs, CO
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Lyn Sims
Schaumburg, IL
-
Michael Jacobs
Pasadena, CA
5,583,328
yes, except with new homes.... in subdivisions, the number of days is skewed because agents submit the entire phase and it takse many months to put under agreement....
-
Chuck Willman
Alpine, UT
-
Kasey & John Boles
Boise, ID
-
Kathleen Daniels, Prob...
San Jose, CA
-
Mimi Foster
Colorado Springs, CO
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
564,494
To the seller - probably
To the listing agent - most likely
-
Mike Baltierra
Eastvale, CA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
-
Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
511,064
I think they do. We still have a shortage of listings in many areas. So if a property hasn't sold in a hot area, it makes you question "Why?"
-
Mike Baltierra
Eastvale, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Mimi Foster
Colorado Springs, CO
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
4,905,762
Makes me think
1 it's overpriced
2 the house has major problems
-
Mike Baltierra
Eastvale, CA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
-
Bob "RealMan" Timm
Minot, ND
5,244,268
It is a sign to be wary. Maybe price, condition or location
-
Mike Baltierra
Eastvale, CA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
-
Bob "RealMan" Timm
Minot, ND
5,115,878
You bet they do! Is there an area where they don't count?
-
Peter Testa
Danbury, CT
-
Michael Jacobs
Pasadena, CA
-
Richard Weeks
Dallas, TX
-
Mimi Foster
Colorado Springs, CO
-
Kathleen Daniels, Prob...
San Jose, CA
2,402,162
To some extent of course Mimi Foster . If a property has been on the market for more than 90 days without a price reduction you can bet you will get low-ball offers if any.
-
Peter Testa
Danbury, CT
-
Michael Jacobs
Pasadena, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Mimi Foster
Colorado Springs, CO
-
Debe Maxwell, CRS
Charlotte, NC
1,208,441
Dom is important to check but with investment properties, might be a moot point
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
-
Bob "RealMan" Timm
Minot, ND
809,258
Yep, definitely matters in the Boise Metro market Mimi Foster. -Kasey
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
-
Bob "RealMan" Timm
Minot, ND
6,423,606
To some people they do matter.
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
-
Bob "RealMan" Timm
Minot, ND
420,003
In high priced areas days on market are normally longer. Yes it does indicate the property is overpriced but could also be out of the norm, or seller not cooperate, or agent unavailable, or marketing not so jazzy ...
-
Michael Jacobs
Pasadena, CA
-
Mimi Foster
Colorado Springs, CO
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
2,189,772
I agree with those saying it depends on the price point. In our market the average for all price ranges is 3 months supply but in the over 650K range it is 9 months.
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
7,869,902
Yes.
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
716,891
Yes. If property isn't selling, it is most likely overpriced or something is seriously wrong.
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
1,057,404
It entirely depends upon the property type and the property itself.
-
Michael Jacobs
Pasadena, CA
-
Richard Weeks
Dallas, TX
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
633,820
For a resale home absolutely, other categories like new homes, land ,commercial not as much
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
1,712,876
One of the most meaningless stats in real estate in my opinion.
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
-
Mimi Foster
Colorado Springs, CO
1,625,153
Yes, and no. Depends on the price range.
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
3,350,439
Yes. It matters differently based upon the property. Price point. Location. You get the idea.
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
-
Kathleen Daniels, Prob...
San Jose, CA
5,772,693
Mimi,
In Santa Barbara, we have listings that have been on the market for years on the very high end. On the median price homes, it matters. So, it Depends!
-
Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Mimi Foster
Colorado Springs, CO
2,222,275
Depends on the property
-
Peter Testa
Danbury, CT
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
554,600
I agree - a long DOM does stigmatize property. A buyer’s agent is leery of it and a buyer thinks it’s now open hunting season and will go in for the kill
-
Mimi Foster
Colorado Springs, CO
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
4,181,025
Mimi Foster it does, sometimes it depends on the property.
-
Mimi Foster
Colorado Springs, CO
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
5,032,996
In most cases (depending on the average days on market in a particular area) it does matter. Real estate is local..if 30 or 60 days is common in your area to receive an offer..shouldn't be a problem.
-
Mimi Foster
Colorado Springs, CO
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
1,242,204
After 1 month on the market shoing active. Something is wrong with the home. Next.
-
Michael Jacobs
Pasadena, CA
-
Mimi Foster
Colorado Springs, CO
-
Bob "RealMan" Timm
Minot, ND
2,785,306
Only to test if what is happening is real...
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Mimi Foster
Colorado Springs, CO
1,325,749
DOM is significant. It can be an indicator that there is a problem with the property as well as indicator of a shifting market. What problem? Price, condition, location, seller motivation, etc.
The buyers love DOM because they think that long DOM is an invitation to a low-ball offer.
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
4,966,102
I believe Mimi that it does matter to sellers.
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
133,344
The longer on the market there is a problem no matter where you live. One area that I worked just had a ton of listings so many of the houses got caught with their price to high where as the new listings were coming in lower. Many of the sellers didn't adjust their price and were sure they were still in a sellers market. Surprise the market changed again.
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
934,802
I think it's one of the key indicators. It's the "pulse" of the local market. I like to see Day on Market by price point. There are times when days on market in the low end are extremely short and very high on the high end. A generic days on market for the entire market (not price relative) may mislead us.
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
519,324
I'm sure it's a factor everywhere. Something new and shiny always attracts more attention than the ones with dust on them.
-
Debe Maxwell, CRS
Charlotte, NC
-
Mimi Foster
Colorado Springs, CO
4,434,177
4,800,132
I think it is pretty similar for most markets. Maybe a little different when you get into the luxury markets.
-
Mimi Foster
Colorado Springs, CO
2,071,025
1,598,452
5,879,125
759,785
Sure, buyer's love to ask "how many days has it been on the market?" And how they will use that information... is not good.
1,728,667
You bet in both the mind of buyers and sellers expecting their 'castle' to sell in hours