Home Selling in 48127>Question Details

Danielle, Home Seller in Dearborn Heights, MI

what is the average selling period in the 48127 zip code?

Asked by Danielle, Dearborn Heights, MI Thu May 29, 2008

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The numbers Lisa quoted you below are true when you run a quick "solds" analysis in MLS. The numbers don't however take into consideration homes on the market currently not sold, homes that expired and never sold, homes that relisted under a new contract. Many agents pull listings and re-enter as new to "re-fresh" the listing, this generates a false market time. Here's an example of a home that was recorded as sold in 175 days, but what about the 62 days prior? It was taken off the market on 9/24 and re-listed 11/1 same agent, different office....
All MLS Listings for same Parcel# the timeline is backwards......

SOLD 4/24/2008 N/175/175 $355,000 ALI A. EXIT REALTY
BMK $399,000 4/14/2008
NEW $419,000 11/1/2007
UWTH 9/24/2007 N/62/62 $419,000 ALI A. RE/MAX
NEW $419,000 7/24/2007

This home took 10 months to sell.
1 vote Thank Flag Link Sat May 31, 2008
Hi Danielle:

When I search for everything that has sold in the 48127 zip code in the last 6 months, the average days on market for the 242 homes that sold during that time period is 90.78 days. Of course, this time can vary depending on the characterisitics of the home such as number of bedrooms and price range but it gives you a starting point.

I have 2 listings in Dearnorn Heights that a currently pending, if I can help you with selling your home, feel free to drop me a line.

Best of luck,
Lisa Bender
0 votes Thank Flag Link Thu May 29, 2008
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