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On average, how many months would it take to sell a home in River Vale, NJ if put up for sale in Mar

on the average, how many months would it take to sell a home in River Vale, NJ if put up for sale in March 2014?.....house built in 1962......needs some modernizing and fixing up.
  • March 04 2014 - River Vale
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Answers (5)

This is entirely price dependent in any market.  Averages are irrelevant.
  • March 07 2014
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Total active Listings 100, Under Contract Last 30 days 30, Absorption Rate in months 3.33+/-. Regards,
  • March 06 2014
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As an agent for over 13 years...I can tell you it is really up to the home, price and agent. Do whatever you can to have the home show well. Let a agent who is active in your area give you a price based on what similar homes have sold for. Price it at the market and be ready to show immediately. The first few weeks are important and you want to get it right. There is no formula or days on market advice that can't be fixed by price and good marketing.
  • March 05 2014
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Weichert: How would the number of homes for sale less the number that went under contract in the last 30 days produce an average DOM?  If there are 100 homes on the market, and 30 went under contract in the last 30 days, then your formula would produce an average of 70 (100-30=70).  That is incorrect.

Perhaps you meant to say that the number of homes that went under contract in the last 30 days divided by the number of homes on the market should give the percentage of homes that go under contract in 30 days?  Even that isn't exactly true, but it makes more sense.
  • March 05 2014
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Total number of homes for sale, less the number of homes that went under contract in the last 30 days should provide the average DOM. Then figure: PRICE,  Price, is it in a flood zone, neighborhood, amount of work needed, etc. Regards,
  • March 05 2014
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