Colleen
I suggest that you ask your Realtor.
If you Realtor does not know....I would be concerned.

Here are some tips that are probably going to give you something to think about:
We expect 10-12 showings or one offer in the first two weeks on the market. If we don't see that, then we will lower the price.
We know that most homes that sell in the first 39 days on the market will sell closest to asking price. IN my market that means 100.3% of asking. At 120 days they sell for 92.7% of asking price. So 20% of homes are selling within 30 days, and 80% sell at whatever time it takes...some homes take a year to sell.

So if I were selling a home, I'd ask my Realtor to meet with me each week and show me the market activity
New listings
listings that lowered their price
homes that entered escrow
homes that sold
homes that expired.

The average buyer looks at 12 homes before they buy , I'd ask my Realtor to tell me which homes represent my primary competition, and go over and see them. Make notes. If ANY of those homes sold before mine, I'd want to know why.

Hope this is helpful. If you need more help, contact me via my Trulia profile.

Colleen,

During the last 90 days there have been 8 Title Transfers in Tappan. On the high end, 275 DOM; on the low 41 DOM, average DOM 124, median DOM 114. Contrast these to the previous 3 month period of May-Aug with 20 title transfers where the high was also 275 DOM, low was 10 DOM, average DOM 93; median 100 and you will see that the average and median days on market has increased.

If you would like more information or a copy of Prudential Rand's 3rd Quarter Market report, email me directly at: carmen.dibiase.prudentialrand.com.

Hi Colleen, I am an agent at Joyce Realty. I recently did an evaluation of all the homes that sold in the last year in the Pearl River school district for between $500K-$700K. Time on market varied from between 30 days--over 500 days. The real driver of how long the property sits on the market is pricing. The 3 properties that sold in 30, 34, and 34 days sold for 3%-5% below the original asking price. One property that was on the market for 1 1/2 years actually sold for over 27% below first asking price. I think the statistics prove that if you price your home competitively, it will sell faster. Unfortunately, for sellers such as yourself, we are now in a buyers market where there are a lot of homes in inventory so buyers are looking for the best deal out there. If you are not working with an agent already, I would love to help you. If you are working with an agent, ask them to look up the price/ time on market details of the sold homes in the South Orangetown School District in your price range. Have the agent look at the relationship between time on market and sales price discount vs listing price. Good luck

You need to ask the listing agent, this is proprietary information unless listed on MLS, in which case any cooperating broker who is part of the MLS has access to to the information.