Tony and Suzanne Marriott's Phoenix Arizona Real Estate Blog

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Days On Market-Does It Matter?

"Its been my experience over the past year that most houses on the market for extended periods of time are unsold becasue the market does not agree with the owner's price."

Agreed.  We run into this issue less in a Short Sale where the owner does not receive any proceeds from the sale.

Days On Market-Does It Matter?

Days on market is a statistic or data point available on our MLS. Buyers usually ask how long a property has been on the market. I know as a negotiating strategy, we maybe a bit more aggressive in a pricing offer if the property has been on the market awhile.

Days on Market-Don't OveranalyzeI encourage buyers to avoid getting hung up on the number of days a house has been on the market. The real issue should be, is this the house for you and can we structure an offer that will work for the buyer and the seller?

What seems to happen in cases where the house has been on the market a short period of time is buyers does not want to act too quickly. There maybe something else out there better than this one and if we wait awhile, the price on the house in question maybe reduced. Wrong strategy if you like this house. Better to make an offer, with a reasonable price now than to wait. If you like the house, chances are someone else will snap this one up before the price is reduced.

Now for the houses that have been on the market awhile, the buyer's concern that maybe something is wrong with the house and that's why it is still on the market. I find that in many cases houses are on the market for extended periods because the market does not agree with the owners price. The inventory of available homes is high enough that buyers, in many cases, are not making offers on houses deemed to be overpriced.

Its been my experience over the past year that most houses on the market for extended periods of time are unsold becasue the market does not agree with the owner's price. So if you like the house, make a reasonable offer, based on what other homes are selling for in the area, regardless the number of days its been on the market. Obviously the Seller's Disclosure and Inspection will be used to help you come to a final decision on the property.

Don't let the "Days On Market" be the over arching statistic used to determine if this is a good deal or not. If you like the house, make an offer.


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Wayne Johnson                                   
18756 Stone Oak Parkway                   
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San Antonio, Texas 78258 

 

e-mail: wjohnson@cbharper.com
Tel:      210.483.6329
Website:www.Wayne-Johnson.com

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Texas Law requires all real estate licensees to provide the following information about brokerage services:
http://www.trec.state.ts.us/pdf/contracts/OP-K.pdf 

The information, opinions, suggestions, and ideas contained in this blog are mine, and are not necessarily those of Coldwell Banker, Coldwell Banker D'Ann Harper Realtors. Information contained herein is deemed reliable but should be verified before acting upon.
 

©December 2010 By Wayne Johnson All Rights Reserved *Days On Market-Does It Matter*


About the Authors - Updated 2018

If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with Haven Express @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.

Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!

Tony Marriott - Chief Executive Officer - Haven Express @ Keller Williams Arizona Realty

Suzanne Marriott - Chief Learning Officer - Haven Express @ Keller Williams Arizona Realty

Associate Brokers, REALTORS
Haven Express
Keller Williams Arizona Realty

Comments

This is a great blog.  We come up with this issue so often.  I have sellers pulling their house off the market because the Days on market scares them.  They don't think it will sell over the holidays and want the closk to stop ticking.  If the house isn't on the market, it's not going to sell either!

Posted by Cindy Edwards, CRS, GRI, PMN - Northeast Tennessee - 423-677-6677 (RE/MAX Checkmate) almost 10 years ago

Days on Market can also be used as a great influence when the listing expires and you want to go after the listing.  But there are times when Days on Market are not a reflection of incorrect pricing.Sometimes there are issues with the home, the neighborhood, etc..   I think it's an issue that spans all states and  all areas.

Posted by Martin Dorgan (Prudential Indiana Realty) almost 10 years ago

Days on market is a good statistic, but as you point out, it can be used to the negative, and the perception of a house on the market for a few days, but priced and presented correctly can and will sell - if the house is right, the buyer should make an offer.

Posted by Carol Zingone, Global Realtor in Jax Beach, FL - ABR, CRS, CIPS (Berkshire Hathaway Home Services Florida Network Realty) almost 10 years ago

Cindy I was remiss in the early days - just now catching up with comments from blog posts since day 1 - thanks for the comment - hope you are still in the 'Rain!  

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) almost 5 years ago

Martin Dorgan I was remiss in the early days - just now catching up with comments from blog posts since day 1 - thanks for the comment - hope you are still in the 'Rain!  

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) almost 5 years ago

Carol I was remiss in the early days - just now catching up with comments from blog posts since day 1 - thanks for the comment - hope you are still in the 'Rain!  

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) almost 5 years ago

Enjoyed this post and want to read more - try this one - Peacocks and Pickles for Christmas 2015!  Wishing you a prosperous and Happy New Year!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) almost 5 years ago

Enjoyed this post and want to read more - visit our website  - HavenExpress.com - where all your questions about buying and selling residential real estate in Arizona are addressed!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) over 4 years ago

Enjoyed this post and want to read more - visit our website  - HavenExpress.com - where all your questions about buying and selling residential real estate in Arizona are addressed!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) over 4 years ago

Enjoyed this post and want to read more - visit our website  - HavenExpress.com - where all your questions about buying and selling residential real estate in Arizona are addressed!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) over 4 years ago

Enjoyed this post and want to read more - visit our website  - HavenExpress.com - where all your questions about buying and selling residential real estate in Arizona are addressed!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) over 4 years ago

Enjoyed this post and want to read more - visit our website  - HavenExpress.com - where all your questions about buying and selling residential real estate in Arizona are addressed!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) over 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) about 4 years ago

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