What Homes are selling - I see some trends.

We track sales in our market every week.  We have seen a definite trend here and I wonder if others see something similar.

In Bethesda and Chevy Chase MD 30% of the Sales very consistently every week for  the last 5 months have been on the market only 14 days or less!  While only 8% of the active listings are that new.  The rest of the market here takes well over 100 days on the average if they don't sell in 2 weeks.  So its like 2 separate markets hot sales and 'seemingly endless sales"

IS THIS TRUE ANYWHERE ELSE?
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July 14 2009 - Washington
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The under 14 days could well be the agents who are listing foreclosures, not mlsing until it's pending and then quickly showing sold. That's my overall take on it.
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July 14 2009
Yes.  It's been that way for the last year or so throughout the area.  A home that is priced right and shows well will often sell very quickly.  In other words, the sellers "get it."  At the same time, you have other sellers chasing 2005 prices or don't put the work into a home that is necessary for it to show well.  The average days on market is really a weighted average of these two groups of listings.
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July 19 2011
 
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