Are "Days on Market" Actually Important?

 

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Hi, I’m Dave Cole with Prudential Colorado Properties in Vail and Beaver Creek, Colorado. Today I would like to talk about the subject of days on the market for a listing. Many buyers and their Realtors will ask how many days a property has been on the market. A large number of days may mean that the seller is anxious and will be more likely to make an aggressive price reduction or it may indicate that there is something undesirable about the property and buyers that have seen it have shied away from it for that reason.

In the second home resort market this information is often useless because the sellers are generally so affluent that they can and will wait for their price or close to it because they have no financial pressure to sell. Or because the average market time (which can be nine months or more) runs up quickly because we have spring and fall sales off-seasons of 120 days or more that run up the days on the market meter and this may result in misleading information.

For further information, please call me, Dave Cole at Prudential Colorado Properties, (970) 331-6867.