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And This Home Has Been Listed How Long?

By
Managing Real Estate Broker with The Property Source

I can't tell you how many times I'm asked that question. A few years ago, when homes were really selling quickly, people would almost cringe when you answered, "Just 135 days." They immediately thought that something must me wrong with a home that's been on the market that long.

Now, when I answer, "It was listed two weeks ago", I met with, "Oh, I guess they're not REALLY ready to sell yet, are they?" My usual response is, "Well, I think anyone that lists their home for sale at fair market value in this market is serious about selling their home because no one in their right mind would be testing the market now."

I've never seen so many tire kickers and people sitting on the fence - and I'm in a relatively good market. I honestly don't know what it's going to take to get the buyers motivated. It just seems as if everyone is waiting for something to happen. The problem is, I don't think they even know what they're waiting for. There is absolutely no sense of urgency. There's too much inventory to choose from and it apprears that it's going to be a very long time.

In the meantime, I have sellers that want to sell and buyers that just want to look. Perhaps this is a new pasttime?

 

Posted by

Janet  

Visit my website for Montgomery County TX Real Estate Information                     www.ThePropertySource.com 

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Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

I certainly hope not Janet.

Jun 20, 2011 12:37 PM
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Janet, Some people can be so annoying with days on market. We have plenty of them in this area still. Non serious time wasters. Thye just dream things up without even seeing the houses. Not long ago thre avg days on market was 120 around here, but it is different for every type of property, land, condos, farms, town houses, etc all will have a different avg days on market. While they're time wasting with days on market, serious buyers are scooping up the best deals.

Jun 20, 2011 01:33 PM