Home Selling in Seattle>Question Details

Paul, Home Buyer in Saint Augustine, FL

What is the average days on market to sell a $800-$900K house on the East Side?

Asked by Paul, Saint Augustine, FL Tue Sep 25, 2012

What is the average number of showings before a house is sold in today's Market?

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11
EdithJasser YourRealtor4Life’s answer
Only having a price range, and an app. location is really not helping to give you some good advice.
And furthermore, let's assume one knows the age of your home, lot size, quality of construction, and amenities, finished basement or not, how many bedrooms and baths etc. etc. hardwood flooring
and sooooo much more, and we would give you a search result of
Average time on market for similar homes was 120 to 200 days..... what would that mean to you?
Would your home sell before 120 days, around 120 days or would it even take a year to sell?
Right..... what really is important in order to sell your home
is having an experienced Realtor do a significant market analysis, comparing your home to those
recently sold in your area and making adjustments up or down depending on the differences in the
homes...... then compare your home to those currently on the market creating your competition and
that competition can change every week of course, with homes selling, going off the market and
new ones coming on......

And time on market could be highly influenced by having not only the right asking price, but also
the perfectly prepared home, does it need some en vogue paint colors on some walls, would a professional stager, rearrange some of your furniture or even remove some to show the home
larger on photos, would your Realtor hire a professional photographer to show your home in its
absolutely best light, on photos on the internet and brochures, and then the creativity of your Realtor in marketing and advertising your property will add to creating excitement around YOUR
property to the real estate community and to the buying public.....

Sit down with an experienced area Realtor if you have not yet contacted one we can make recommendations to you and discuss all angles of the sale of your home with him or her....

Good Luck to you!
Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties, 30 Green Bay Rd, Winnetka, Illinois 60093 ---- EdithDoesItRight@yahoo.com or EdithSellsHomes@gmail.com Check out my website at htttp://www.tinyurl.com/MeetEdithHere
get to know me better and learn about my experience, expertise, services available and letters of recommendation of former clients..... Also you can sign up on my site to search for properties in my expanded service area. HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Wed Sep 26, 2012
There are always exceptions to the rule, depending on how you market it and who the listing agent happens to be... Just sayin...
0 votes Thank Flag Link Sat Nov 17, 2012
According to my research the answer as of today November 17th, 2012 is 171 Days.
0 votes Thank Flag Link Sat Nov 17, 2012
Hi Paul,

In August 2012, Eastside homes were averaging 50 days on market, that was down from two years before at 88 days on market. If you are considering selling a house, right now is a great time. Inventory in our area is very low and interest rates are also at a record low, buyers are just waiting for the right house to come on market.

Good Luck,

Nikki
0 votes Thank Flag Link Sat Oct 20, 2012
The reason these answers vary so much is that each home is unique and it's hard to generate accurate comps without some specific info about the subject property, as well as its location and view, among other variables. But there's some good general info here.
0 votes Thank Flag Link Tue Sep 25, 2012
Generally the answer is 60 days or less.

Of the 33 sold in the last 30 days in that price range,

11 sold in a week or less

9 sold in more than a week, but less than 30 days

9 sold in 30 to 60 days

3 sold in 60 to 90 days and one sold in over 240 days.

I included Bellevue, Kirkland, Redmond, Sammamish, Issaquah...and I threw in Mercer Island for good measure. I didn't go back more than 30 days as the market was a bit brisker from March through July. In fact those closed in the last 30 days actually went into contract In late July through mid-August. Still...the odds are in your favor as to 60 days or less for sure.

I have 2 clients in that price range. One for Bellevue, but house must face North or East and another for Bellevue or Issaquah, depending on whether the price is closer to $800,000 or $900,000. In fact they are cousins as I normally don't take 2 clients who want the same thing, but they asked me to make an exception.

If you email me the address as a heads up I would appreciate it.
0 votes Thank Flag Link Tue Sep 25, 2012
I agree with Kirsten - it really matters what kind of house, the specific location, the type of sale (typical, short, REO?) etc. To answer your question without any of those specifics, the average days on market for the $800-900k on the Eastside was 34 days in the month of August. In May, June, & July, the average was 80 days.

It's also important to keep in mind that average days on market isn't always the most useful statistic. We have many homes that are pending within a week, but we also have homes that can sit for 200+ days (especially in the distressed market). Then we add it all together and average it...so, not always a informative number.
0 votes Thank Flag Link Tue Sep 25, 2012
Hi Paul-

The average days on market according to Trendgraphix - a tool that aggregates data from our Northwest Multiple Listing Service - indicates that homes on the Eastside, (no specific neighborhood), between $800-$900K saw an average of 80 days on market in May, June and July of 2012. That average dropped to 34 days on market in August, 2012 as buyers likely were making decisions prior to the school year.

In addition, the number of homes pending (under contract) and sold has increased over these last few months along with seasonal increases in new properties on the market. Months of inventory - another measure of the market - is under 4 months on the Eastside in this price range meaning that if no other homes came on the market, it would take less than 4 months to sell all remaining inventory. That indicates a market that is in favor of sellers.

As far as showings go, it depends on correct positioning and presentation, but as a rule of thumb, if we haven't had an offer after 15-20 showings, we know we need to make some sort of adjustment. We gather feedback from these showings to determine how competitively we are positioned in the market.

I hope this helps!

Cheers!
Martha
0 votes Thank Flag Link Tue Sep 25, 2012
Correction: In area 500, there have been only 6 closed sales since September 1st which were priced between 800K to 900K.. One home sold as quickly as 4 days, while another home took 82 days to sell. The average days on market was 29, but six homes is really not enough data with which to reach a conclusion about market time.
0 votes Thank Flag Link Tue Sep 25, 2012
Since September 1st, the average days-on-market was 62 for area 500. There is more than one east side "area", so if you need more specific data feel free to contact me.
0 votes Thank Flag Link Tue Sep 25, 2012
It depends on where it is on the Eastside. Assuming it's priced right and in "show" condition, a home in this range around downtown Bellevue could sell in a couple of days. If it's in Issaquah, it could take a while longer. Real estate is all about micro-markets so it helps to know the exact city/neighborhood.
0 votes Thank Flag Link Tue Sep 25, 2012
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