Today we’re going to talk about the number of days on the market. “Days on market” means the period of time from when you put your home on the market to the day you put your home under contract. Our average in the Oklahoma City metro area is around 68 days on the market.
Does it matter how many days your home stays on the market? The answer is yes. The faster your home sells, the more money you end up getting from it. So, how can you help keep your home on the market for fewer days? It all comes down to price and presentation if you’re a seller.
It’s the agent’s obligation to provide you as the seller with enough information to accurately price your property and help you stage it properly so that someone will put in an offer after walking through it.
Most importantly, it’s about marketing. Your real estate agent is a marketer, not a salesperson. You don’t ever sell a house, but rather you market a property to convince a buyer that they want to purchase it.
So, how do I stack up? Right now we’re averaging about 37 days on the market. Some homes are on the market for only a few days, and others for much longer. I recently listed a home that went for full price on the first day it was on the market. Some homes, such as the homes in the luxury market and are priced over $750,000, can be expected to stay on the market for longer due to there being fewer buyers.
If you have any other questions about this topic or you’re looking to buy or sell a home, please give me a call or send me an email. I look forward to speaking with you.