Monday Morning Market Report – Days on Market
August 9, 2010 by Laura Duggan · Leave a Comment
In a downward trending market, Days on Market are everything. The longer a home sits on the market, the lower the price you will get for it. Watch as Patrick talks about how pricing right at the beginning, gets your home sold for more.
1. Only 16% of homes on the market sell every month.
2. Only 3.28% of homes sell in the first 15 days on the market.
3. Of the total number of sold homes, about 24% sell in 15 days or less.
4. Homes that sell in the first 15 days, sell for 98.16% of asking price. Homes on the market longer than 120 days, sell for 88.63% of asking price.
Laura is a third generation native of Austin who grew up in Tarry Town in Central Austin. She is the owner and broker of West Austin Properties and has been selling real estate in the Austin area since 1979. Laura is married to the love of her life, Brad, and they have two grown daughters. Together, they love to explore all of the fun spots Austin has to offer.
