Days on Market is a common metric, which tracks how long a home has been on the market. Many issues can affect how long a home sits on the market and provides a good measure of how the home is being received by potential buyers. Homes on the market for more than 30 days may be good opportunities for price negotiations.
Reasons Homes Haven’t Sold Within 30 Days:
- Price is too high
- Unique home or property
- Home is not staged
- Lack of curb appeal
- Poor pictures
- Visible repairs or deferred maintenance
- Price point limits the number of buyers
- Lacks current updates
Some homes might seem way out of reach, but it’s still possible to put in an offer that can be successfully negotiated with the seller. For motivated sellers who must move, negotiating price and concessions may be the perfect option to getting the home you want. Our analytics and experience can help identify homes trending on the market longer than normal, which can mean an opportunity for our clients.