According to my Keller Williams Team Leader, the number of Days on the Market (DOM) for metropolitan Columbia SC homes for sale is steadily increasing. Depending upon how you slice and dice the data, the average real estate listing is sitting on the market for approximately 95 to 105 days.
What are you and/or your real estate agent doing to reduce your DOM number?
Are you having trouble getting buyers to visit your home?
One reason could be how you arrived at your listing price.
Did you and/or your real estate agent calculate your Absorption Rate before pricing the home? What?.............. You are unfamiliar with the term Absorption Rate.
Knowing the absorption rate and using it as a tool to properly price your home is critical to selling your home in significantly less time than the 95-105 average DOM timeline.
Here are Absorption Rates for some Columbia SC neighborhoods.........
The Highlands in Northeast Columbia SC currently has 10 Months of Inventory on the Market. What does that mean to Highlands homeowners? In laymen's terms, if you have a home on the market in The Highlands, it could take you TEN (10) MONTHS to sell!
Turtle Creek in Northeast Columbia SC - Your Absorption Rate is NINE (9) MONTHS!
Milford Park in Irmo SC - Good News! Your Absorption Rate is four (4) months.
Heatherstone in Irmo SC - Better News! Your Absorption Rate is three (3) months. If your home has been on the market longer than three months, it might be time to perform The 4 Ps Analysis on your home! (That's another article for another day!)
If you have questions about your Absorption Rate or conducting 4 Ps Analysis of your home to reduce your DOM number, call today to schedule an appointment with Patterson Group and the Keller Williams team.