Three different types of "average" gave me varying results:
CDOM, DOM, and Median
for Residential, including condos, includes: El Dorado, Sacramento, and Placer Counties:
Broken down by price range,
Over a million dollars: 121 days, 107 days, 54 Days
500K to 999K: 59 Days, 46 Days, 20 Days
250K to 500K: 35 Days, 30 Days, 12 Days
150K to 250K: 31 Days, 27 Days, 10 Days
100K ot 150K: 34 Days, 29 Days, 10 Days
under $100K: 40 Days, 33 Days, 12 Days
All Price ranges: Average CDOM = 36 Days, Average DOM = 30 days.
A different type of average: the median days on market is about 11 to 12 days for all ranges.
Median days on market is the important average. Overpriced and poorly marketed houses overweight the average DOM figures, making them less important statistics than the medians.
The median tells me that half of the houses have executed contracts in less than 12 days.
Getting a contract ratified by the seller can take several days. If there are counter offers that can stretch the negotiation period out by days. Buyers intuitively are attracted to homes that are attractive to other buyers because of perceived value to list price, so the "hottest" listings are usually multi-bid and overbid within a day or two. The perception of a 11 day median is mainly due to the time the seller takes to choose one of the offers submitted in the first couple of days then getting the contract ratified.
In real life, not just statistics, the average number of days the home that the average buyer wants to offer on, is probably about two.
Criteria: Pendings and Solds since 12/22/2012 only; no actives.
Expireds and Withdrawns not included unless subsequently relisted and sold.:
Comprehensive Days on Market (CDOM) includes back on market listings and relisted expireds.
DOM (Days on Market) statistics are shorter than CDOM statistics by about 6 days.
And what financing types was selling fast and not so fast for the month of March?
Cash (0-30 days): 1,198 units
Conventional (31-60 days): 161 units
FHA (61-90): 77 units
VA (91-120): 37 units
Otherâ€ (121-180): 39 units
â€ includes: cal vet, contract of sale, creative, farm home loan, owner financing.
Real estate, gotta love it!
Keisha Mathews, REALTORÂ®
CDPEÂ®, HRCÂ®, HAFAÂ® Certified
"SAR Masters Club Member 2012"
Mathews & Co. Realty Group
@ Century 21 Landmark Network
(916) 370-1803 cell
Contact me anytime to help with all of your real estate needs
Lyon Real Estate
However, if the home is priced well, in decent shape and a decent location, you can get multiple offers within hours to days. We are a sellers market so homes go fast.
I went to one listing a few weeks ago and the house went pending within HOURS of being on the market.
Nancy S Bergman
Realtor - Lyon Short Sale Certified
DRE # 01893550
Lyon RE Downtown
Right now a Home for sale in Sacramento should be on the market for 20 days on average. There are a number of factors that contribute to that number.
You should always look at apples when you are trying to sell an apple, but in general 20 days.