what is the average days on market for home sales is 08534 and 08540?

Asked by Liz, 08534 Sat Apr 11, 2009

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William Leigh Holt’s answer
William Leigh…, , New Jersey
Sat Apr 11, 2009
Liz: Average means that 50% take more time, 50% take less. There are different DOM for sales, sale pendings and available categories. Why do you suppose that is true in this market? Why is DOM for available usually LONGER that DOM for sales? It's true! I can think of a good reason, can't you?

Anyway, DOM is a bad tool to use for much. It reflects the past market behavior but what will be the use of past behavior if the market gets really HOT tomorrow? OK, not tomorrow. How about next week or 17 1/2 days?

You need a Realtor with a bunch of experience to interpret what you should expect in any individual situation. Averages don't do it.
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Kenneth Verb…, Agent, PRINCETON, NJ
Sat Apr 11, 2009
Liz as an agent who lives and works in the zips you mention I would say it is in excess of 90 days. This number doesnt mean much though as correctly priced homes will sell in 30-60 days.It is a question of seller motivation (there are buyers here, they just want a great place at a fab price) Note that as opposed to many areasin the US there are few foreclosures in the Princeton and Pennington areas. You should also know that DOM vary by price range also. Email me if you would like a breakdown. (the zips you mention include many more towns than the two I mentioned.)
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