This is a tricky question. The asking price and days on the market are very indicative to how realistic the seller was about the asking price when first listing the property for sale. Before signing a listing agreement with a realtor, the realtor will prepare and present a comparative market analysis showing sales from the last six months. A seller will have a very realistic picture of what their home is worth and what it will sell for in the current market under the current conditions. However, some seller's find that they want to start higher than the market (therefore creating longer days on the market). Usually after a few price adjustments down to where the market demand actually is...the property will sell (sometimes for less than if it was priced at market from the beginning). It's been proven (I've seen this numerous times myself) that if a property is priced just slightly under market. It sells quickly and usually with more demand which can and more likely will push the purchase price over the asking price which is a win-win for the seller!