A good factor for prospective home buyer's to look at when seeking a residence is Days On Market, or DOM. During a busy market, those listings that are on the market for months and months sometimes signal that there are reasons why the home won't sell. It could be price, some structural or physical problem, bad layout, or any other host of things. A larger DOM is a good common sense signal to "be careful".
In today's market though, in some areas, there are large numbers of houses on the market and fewer buyers. (a buyer's market). Today I'm seeing homes that appear to be a great home for a great value sit on the market just as if they were overpriced or faulty. In the downtown area, where DOM is generally larger anyway, this has been particularly true. Home buyer's in today's market need not be alarmed if a property hasn't sold quickly. In many markets, the days of the "quick sale" are behind us.
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