Long Island Fun Fact Friday What Does Days on Market Mean?

Good morning Larry and Sheila.Days on Market have been a challenge for MLS's for years and the rules have been changed. Enjoy your day.

This is good information to share.

Take care, be safe and have an outstanding day.

Hello Sheila and Larry - days on the market can be a clue in real estate and definitely a possible source of manipulation too.  Having the right real estate representation can share insight that might not always be evident on the surface.  

You certainly have the knowledge necessary to be the best advocate for your clients in Long Island!

Days on the market in our market as been manipulate. Currently the average days on the market is 8 days and that is only because we are holding off on offer presentations for one week until the house receives full exposure. Otherwise, the average days on the market would be 1-2 days. 95% off the deals dont have financing and inspection conditional clauses and Buyers are coming in firm.

Always interesting to me, Sheila and Larry, how much difference there is between various states. Here, we agents "write" the contracts and inspections don't happen until after there is an executed contract. There is no attorney involved except to do the closing.

DOM, it always comes down to OVER PRICED.  Price it correctly.  To much data to trick people these days.   We made it to Friday, weekend is near.  Thanks again for your post.  Finish the week with a productive day.  bill

Good explanation of the DOM of a listing.  In our area some agents will cancel and wait a period of time before putting it back on market.  This doesn't accumulate the DOM and f it also carries a price change it looks like a fresh listing on the syndicated sites

Thank you Larry & Sheila for this useful information. With the Long Island marketing being so hot and properties moving so fast. Your not seeing many properties on the market for a long period of time. 

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400  In Pennslvania agents deal with everything we do not deal with attorneys unless there is an issue 

Larry and Sheila,

This is a wonderful and clear explanation of days on market.  No wonder people do not understand it, expecially when people refer to it as DOM.  A

Hello Sheila and Larry and great job with all the blogs you post here in the Rain.  Make it a great day!

Good morning Larry and Sheila - good information here.  The terms can be confusing to buyers and sellers.

Wonderful explanation of DOM, Sheila! Funny but, I was sharing a CMA with a sweet couple last week who are first-time home sellers. The wife saw the DOM and exclaimed, "I don't think we can be out of the house that quickly!" She thought DOM was literally from list to Close!

Needless to say, that was a first for me!

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 - Great REALTORS educate consumers and you do a great job!

Always and forever, I wish you success, prosperity, and happiness.

Great information to share because a lot of people do not understand what this means.  Hope you both have a fabulous Monday!