Days On Market - What Affects Them?

By
Home Stager with Colorado Premier Staging, LLC

Just had one of our investors call to tell me he has sold the property we staged and we can come remove the furnishings.  In the last 2 weeks we've had 3 listings sell (go under contract) and a fourth has an interested buyer.  The first property went under contract in 7 days, the second in 29, and the last in 76 days.  This is a good sampling of Colorado Premier Staging's average days on market (currently under 39).  

Why the disparity in days between properties?  Good question but one that I will just have to speculate about.  Each of the properties was flipped using great finishes; granite counter tops, stainless steel appliances, hardwood flooring.  Each of the properties looked great after staging.  Each of the properties were properly priced for the neighborhood.  However, the property that sold in 10 days was in a beautiful, mature neighborhood where the home owners maintain their properties.  It is in an above average income level neighborhood and it has home owners that have been there for some time.  It is close to great shopping and entertainment. The second property that sold in 29 days was also in an established, mature neighborhood. But, it was in an average income level neighborhood.  The properties were still maintained but not nearly as well as the first property.  The homeowners in this neighborhood are slightly more transient; the homes turn over more often.  The final property, the one that took 76 days to sell is in a lower, below average, income area.  The neighborhood is an older mature neighborhood where there is a higher level of rental properties.  Home turn over is much higher than in the other two neighborhoods.  The homes and the yards are not as well kept and in some areas, not kept at all. Homes are close to shopping and entertainment.

So, does this make the difference between selling in 10 days vs 76 days?  Maybe.  Based on those 3 properties it would make sense.  But...Let's add the 4th home to the mix.  

This is a beautiful home in a well above average income neighborhood.  The homes are eclectic with some being original 1920s/1930s/1940s and others being brand new "scrapes".  The neighborhood is a fairly well maintained, mature area near an expensive College, with plenty of shopping and entertainment. There are just a few homes here and there that aren't as well maintained as they should be.  Home owners in this area don't leave.  The home was well priced for the neighborhood when originally listed and now, after 2 price drops, is a bargain.  This home has been on the market for 94 days staged and 30 days prior to the staging.  There has been plenty of interest as far as showings but until last week no offers whatsoever.

I'll be honest, I'm at a real loss!  Have any of you got ideas on why these do or don't sell?  Is there a common thread?  What have you seen it in your experience? I'd love to hear your opinions.

 

      living room      Living Room to kitchen

      Kitchen       Dining and Kitchen

 Have you thought about starting a new career?  Are you good and redecorating your home and your friends' homes?  Want to work for yourself? We can get you started in a career in Home Staging -http://www.coloradopremierstaging.com/services.html –

 

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Teri Clardy, PMP &
APSD Certified Home Stager, Vacant & Distressed Property Stager & 

Home Stager Trainer
 
Colorado Premier Staging, LLC
"We Specialize in Staging Vacant & Distressed Properties"

 

 

 

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Teri Clardy, PMP &
APSD Certified Home Stager, Vacant & Distressed Property Stager & 
Home Stager Trainer
 
Colorado Premier Staging, LLC
"We Specialize in Staging Vacant & Distressed Properties"
 
 
 

 Are you ready to start YOUR  new career in Home Staging?

Get your FREE CD Today!

http://www.coloradopremierstaging.com/services.html 

 

 
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Rainer
203,029
Mary Macy
Top Agents Atlanta Metro - Roswell, GA
Top Agents Atlanta Metro

Okay, here is the deal, if you can make sense of it, sell the technology, I don't really think anyone knows, if we did we could predict when every house would sell.  I guesss houses have their own Karma

Aug 15, 2011 01:00 PM #1
Rainer
31,654
Janet Owens
The Property Source - Montgomery, TX
The Property Source, Lake Conroe Real Estate 281.844.6584

Oh how I know your dilemma.  Your pictures are gorgeous! You asked the most important question.  Just doesn't make sense, does it?   Maybe the "right" buyer just hasn't come by yet?  Sounds like your DOM is pretty low. 

Aug 15, 2011 01:20 PM #2
Rainmaker
1,024,969
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Staging is something that always affects the time on the market.  It becomes shorter.

Aug 15, 2011 01:21 PM #3
Rainer
161,490
Teri Clardy
Colorado Premier Staging, LLC - Littleton, CO
APSD Certified Home Stager Pro

Mary, who knows, perhaps every house does have its own karma.  Now, just have to figure out how to determine what that karma is.....  Winking smile

 

Thanks Janet.  I am constantly working to improve our staging techniques so our DOM continue to get lower and lower.

 

I totally agree Tim.  Thanks for the comment.

Aug 16, 2011 05:12 AM #4
Rainer
225,217
Didi Doolittle
Slifer Smith & Frampton Real Estate, Eagle Office - Vail, CO
Vail, CO Realtor 970.232.8225

Mary, I love the House Karma idea!  Teri, there are so many variables that constitute why a home isn't selling.  It sounds like the home is priced right as it is getting the showings, but no offer tells us there are either other homes in that price-point/neighborhood that a) show better or b) are priced better and they are making offers on those first.  Sounds like your DOM record is low with your staged homes, keep up the good work!

Aug 17, 2011 05:43 AM #5
Rainer
161,490
Teri Clardy
Colorado Premier Staging, LLC - Littleton, CO
APSD Certified Home Stager Pro

Thanks Didi, I appreciate the comment.

Aug 17, 2011 12:59 PM #6
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Rainer
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Teri Clardy

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