Today I’d like to discuss a question we don’t regularly receive from homebuyers but we feel is important for them to know.
Generally, the most important questions we receive from homebuyers are about the school/neighborhood, the age of the appliances and systems, and the condition of the furnace, hot water heaters, and such.
However, one question they don’t normally ask is about the days on market. This is the figure that tells someone roughly how many days, per recent market activity, one can expect a home to stay on the market. This number is important to know since it will affect the price of the home—not to mention that the longer the home has been on the market, the more motivated the sellers are, typically.
Sellers whose homes have been on the market have often tested their higher price and reduced it down to something that will catch more buyers’ attention.
We always counsel our buyers on how the house is positioned in the market and how we should respond in terms of an offer. If you have questions about buying a home, feel free to reach out to us. We’d be glad to help.