Home Buying in Westerly>Question Details

ezykmatthew, Home Buyer in Groton, CT

How long are homes in Westerly staying on the market for before they are being sold.?

Asked by ezykmatthew, Groton, CT Fri Dec 21, 2012

Help the community by answering this question:


That is a great question and one that needs to be answered in detail and broken down by price range and market area. One of the things our MLS system does not do is tabulated the total number of days from one listing to another so that you have an aggregate number. So if you report the last listing period before selling you could have something like this happening. Agent A sells home in 49 days for 98% of list price at $389,000, but the real story is this same home was listed by Agent B for 180 days at $430,000 and it never sold and before this Agent C had it listed for 365 days at a price of $489,000 and it never sold.
So if you rely on the data from MLS without going back on each property for a history check then # of days on market before sale is totally misleading.
I rarely use DOM (days on market) other than to show a prospective seller they will get way less than the property is worth by over pricing with some agent who just wants thier listing and a sign in the yard.
Hope this helps. Dan Liese RE/MAX Professionals 401-742-3216 cell dan@danliese.com
0 votes Thank Flag Link Sat Dec 22, 2012
Contact Dan Liese in Westerly. He is the best broker in that area (in my opinion) and knows the market very well. His phone number is 401-742-3216 and here is a link to his profile on Trulia.
0 votes Thank Flag Link Sat Dec 22, 2012
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