Days On The Market – David Reecher
The days on the market refer to the number of days that have passed since a seller or agent listed a property. Sellers are generally concerned about this when the market is a buyer’s market. The longer that a property sits on the market, the more unlikely it is that the seller is going to get his asking price on the property. With this in mind, many sellers will set a point at some number of days on the market when they consider re-evaluating the asking price. The number of days on the market required to sell a property depends upon a number of factors. Most homes will be on the market for at least 90 days. Once a property has been on the market for 180 days, though, sellers and agents typically get very anxious. That many days on the market indicates some deficiency in either the property or the listing itself.