Profile picture for stacy24m

what's the average time for a house being on the market before it is sold?

  • September 23 2010 - Oklahoma City
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Answers (16)

Here in Colorado, you would be able to get a very specific answer on your specific neighborhood and property in a matter of 10-15 minutes.  A full CMA would take a little longer, of course.  But the answer will only apply to you if you do everything regarding the marketing of your property in an average way.  But the average days on market will give you an indication of whether your market generally favors buyers or sellers.
  • January 13 2011
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Profile picture for Connie Klemme

You should be able to find a Realtor willing to do a CMA for you to answer these questions.   There's plenty of Realtor's on zillow and that you can contact with a request. 

  • January 13 2011
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Profile picture for Donna Paul

The timing of a home on the market all depends on the price that has been placed on the property. It would take 2 days to 12 months to sell a home. It all depands on
1. Location
2. Price
3. Marketing
4. Agent
I have listed a home and got an offer within one week or 2 days. If these things are in place the home could be sold within a week.

  • November 18 2010
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Profile picture for RealEstateCrew
What is involved in a CMA
To be able to answer this question one must look at every aspect of the home that is being sold, bed rooms, bath rooms, major upgrades, such as a new roof or Heat and Air system.  Upgrades do not include items such as painting a room or planting some flowers out front.
 
Additional Items in today's Market
Houses are not just competing with homes in their neighborhood but even the same school district are needed to be included in today's CMA's due to the excess inventory.  With plenty of choices if seller's do not price right and take into account steeper than normal driveway slopes or the home backing up to a major street, they will not be selling anytime soon.

In Summary
Days on the Market are directly relative to the home's list price and benefits the home is offer the buyer.  Remember if there are homes in the same price range as your home, yet the other home's neighborhood has a pool, buyer's are going to purchase the other home.  Real Estate is a Market, you can control the time it takes to sell your investment.     
  • November 16 2010
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Hi Stacy

Hope all is well with you today!

The best source of this information is your local real estate agent.  Most mls services have statistics on this type of data for the cities they service.

Clara Lyons
I turn real estate dreams into reality - One home at a time!
  • October 07 2010
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There are many variables in how long it takes a home to sell, including if your home is properly priced based on its condition and location, if your Realtor is actively marketing your home to potential buyers, and what the current market activity is in your area. Your Realtor can provide you with statistics on these.

Be sure to at some point (when your Realtor recommends) re-evaluate your price and marketing plan. Good luck to you!

-Sunny Fellman, Realtor
Cape Cod, MA
[contact info removed by moderator]
  • October 05 2010
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It depends on the asking price, your Realtor, the marketing and the area you live in.
  • September 24 2010
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Your local agent can give you up to the minute weekly or monthly reports on the entire market, your subdivision or the comps in a defined area. Since real estate is such a local business NAR stats may be misleading for your market. If you are examining the local market, it is helpful to look not only at solds DOM (Days On Market) but also active and pending DOM's. From a purely statistical standpoint, you can also chart this information across the price ranges in an Excel worksheet.
  • September 24 2010
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Profile picture for rockinblu
For what it's worth, at this time the average days on the market stat for Oklahoma City given by AOL Real Estate is 114 days. However as previously stated, a local realtor would be your best source of information for a more accurate stat as they would be able to consider a number of different factors such as price range, location, and condition in giving you an estimate of DOM.
  • September 24 2010
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Several things determine time on market. Start by looking at data in your area, price, condition, location, and economy. Homes sell in any market. Yours need to be more attractive to the buyer than the others. Remember.
Average time on market is simply that. Some houses sell in a day, others take a long time. Price it right to begin with and your odds of selling it sooner go up dramatically.
  • September 24 2010
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   Stacy ... simple question but no simple answers...LOL...how long a house 'sits' on the market depends on factors like: location, condition, age, staging and most of all on pricing! ...we are in a 'challenging market' now... I assumed that you're not expecting a generic answer so let's get in touch and chat a little ... and as always 'no strings attached'  ;))
With smiles,
Bo
  • September 23 2010
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A number of factors go into how long a property will sit on the market before selling, and some of those factors are local.  In our area, the generic average DOM is around 120 days.  This number changes depending on the  price range, number of bedrooms, location, etc., but it's the general average. Depending on your specific market, this number could be dramatically higher or lower.  An agent in the Oklahoma City area should be able to give you the best answer to your question.
  • September 23 2010
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If your home is staged and priced properly, you should see the most activity in the first 14 days on the market. If you are over priced, it will not ssell.
  • September 23 2010
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Profile picture for jal74
Given that there is currently 12.5 months of inventory at current sales levels, obviously far too long.

Regards
  • September 23 2010
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Profile picture for Mills Realty
Any local agent CAN give you that information you just simply need to ask.  Keep in mind that there are many factors that lead to that number not being very effective when deciding on whether to sell or not.
  • September 23 2010
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That would be amazing if any could truly give you an exact answer.

Any knowledgeable Real Estate Pro can guestimate though for you based on several key criteria points.

1) Location of the Property
2) Right Price compaired to Market area
3) Condition compaired to Comps
4) De-Cluttering also Staging
5) Curb Appeal
6) Marketing

These are just a few of the variables that will help or hurt the time on the market. Its not an "exact" science per-say.
  • September 23 2010
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