DAYS ON THE MARKET

We’ve been looking at homes with an agent and have found some to be for sale for a few months while others are selling in a couple of days.  I’m wondering if we should only look at the new ones on the market as maybe something’s wrong with the others?

Since days on the market is well known in the digital age when home sale information is readily available to anyone with a computer, it has become an indicator that leads to a perception that, the longer the market time, the less desirable the home.  And, although this is often true, it is not always the case.  Some homes have features which attract a specific population – features like an in-law suite, in ground pool, an added apartment or detached garage.  Others may have floor plans not as attractive or more bedrooms than most buyers need.  Location can affect market time as homes not easily accessible to major highways or those next to traffic noise may take longer to sell.

If the homes which have been on the market a while have the features you are looking for, I would definitely recommend taking the time to view them with your agent.  Because they’ve been out there a number of days, the sellers may be eager for a contract so it could be an invitation to a great deal.  If your agent knows the area and what is appropriate, you may be saving money by buying the one with more days on the market. And then before you know it, you are packing and moving to the home of your dreams.

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