If you are considering selling your property
or if you have your property on the market...
you should know about Days on the Market.
Do you know the average DOM (days on market) in your area?
The amount of time it takes property to sell varies from area to area so the amount of time it usually takes to sell in Androscoggin County is different from the amount of time it usually take to sell in Oxford County. In 2011 the average time a residential property spent on the market before it sold in Androscoggin County was 127 days. In Oxford County the average time was 196 days. That is a 2 month difference!
Do you know the average DOM in your area for the Real Estate Agent you are considering or who has your property listed?
There are a lot of factors that go into the amount of time a home spends on the market. The condition of the property, staging, location and pricing are a few factors that could make a difference. Obviously you can't change the location of your property, but a good Real Estate agent will advise you of what you can do to get your property sold in the least amount of time.
Why is selling quickly so important?
Fresh inventory sells for Top Dollar...stale inventory gets discounted. The longer a property sits on the market, the better the chances of having to reduce the price to get an offer. If buyers see that a property has been on the market longer than other properties, they start to think something must be wrong with it. After all, if is was such a good deal, someone else would have purchased it.
Do you want to work with an agent who has a history of getting property sold in less time
or who has a history of taking longer to sell a property?
If you are interested in knowing more about the average Days on Market in your area,
call us at (207)784-3800 or click the button below to e-mail us!
