Days on market is a measure of how long a given listing has been on the market but finding the true days on market for Charlotte NC real estate isn’t as simple as finding out when the listing date was.
When a listing is withdrawn or expired and then re-listed the days on market counter gets reset. That’s right, a house that’s spent 180 days on the market without selling can appear new but it really isn’t.
As a buyer, wouldn’t you want to know how long the sellers have truly been trying to sell unsuccessfully?
As a seller, wouldn’t you want to know truthfully how long your neighbors have been trying to sell and if there’s been any price changes along the way?
The history of a listing is absolutely important, just as the history of price changes tells a story so do the status changes. Was the listing under contract then back on the market when something failed? What price did the listing start at and how does the current price compare? Was the listing withdrawn then immediately re-listed?
When evaluating Charlotte NC real estate, whether buying or selling a home, the actual picture of real estate listing history is a critical piece of the puzzle. So when considering days on market, just know that there’s more to the story than just a number.
Copyright©2008 by Diane McDermott, All Rights Reserved, “Days on Market – Not Just A Number”