Market Conditions in 06470>Question Details

Alex,  in Woody, CA

How can i find "average market time" for a community, or town??? IS there a tool in trulia to do so???

Asked by Alex, Woody, CA Mon Sep 15, 2008

How can i find "average market time" for a community, or town??? IS there a tool in trulia to do so???

Help the community by answering this question:


I would contact a local real estate agent and ask them to give you the statistics.

I would do that for someone if I was asked.
Good Luck
Augusta, GA
0 votes Thank Flag Link Fri May 13, 2011
Each market is different for sure and changes almost daily. A great idea would be to look up a realtor in your area here in Trulia and find one with a great rating and ask them if they could provide you with that info. No matter if you want to use a realtor, most are willing to help out in the hopes you might use them or reccomend them to someone. Realtors are a great tool, no pun there, use them.
0 votes Thank Flag Link Fri May 13, 2011
Hello Alex, If you send me the towns your interested in I would be happy to provide you with all that information. The average market time changes often and it is often difficult to determine what average is in this market as sales include "short sales" forclosures and bank owned properties. I will be happy to let you know if an area you are interested in has improving sales or declining market. Inventory is a big factor. I sell in NY, CT and can provide you with information with both states.
0 votes Thank Flag Link Tue Jun 29, 2010
There is a lot of information on this site but I could not find "average market time". What town do you want to know about?
0 votes Thank Flag Link Mon Sep 15, 2008
This is done via research on your MLS.
While you may be able to find "average" market time on sites such as Trulia, they usually will not be completely accurate, as they cannot account for homes that expired and were re-listed, and/or homes where the listing was cancelled and then immediately re-listed, which is a ploy sometimes used to fool the average person into thinking the home was available for a shorter period of time than is actual.

Go to your MLS, pull up all the sold homes in the community you are researching, then look at the History of each of these homes to determine the actual, cumulative days on market for each home. Add of these numbers for all the homes, and then divide that total by the number of homes.

This can also be done for active listings.

I do this every month for select towns. It is very time consuming, but you'll learn much more than the average agent about what the true marketing time is for homes in each area.

Hope this helps!
0 votes Thank Flag Link Mon Sep 15, 2008
There is no completely accurate way to do this, without doing a lot of research, as some homes expire or are cancelled and then relisted. So a home may have been on the market for more than a year, expired, re-listed and sold in 45 days. Obviously this 45 days is not the actual market time. In other words, you have to really do your homework and check the history of each house.
Web Reference:
0 votes Thank Flag Link Mon Sep 15, 2008
Hi Alex, Just go on your MLS. Call up all active listings and at the end, it should tell you average market time. The same for sales - ask for every sale in whatever category you are interested, and again, at the end it will give you avg market time and avg sale price.
0 votes Thank Flag Link Mon Sep 15, 2008
If you are trying to determine how long it is likely to take to sell your home, there are other factors to consider.
You should look at market time for you neighborhood and price range as well. Then look at the anonalous ones and see what their original list price vz selling price was. There have been many houses on the market for a long time because the owner started at an unreasonably high price.
Have a full market analysis done for your home. Discuss all of the factors with the agent(s) you interview. How long a house takes to sell is usually a direct correlation to the original asking price, and how effectively it is marketed on the internet. The marketing has to be specifically targeted to the most likely buying audience for that property. An ad written for a $200k house should be very different than one for a $700k house. In either case, there should be a lot of descriptive info and tons of good, clear, bright, timely pictures and virtual tours.
Web Reference:
0 votes Thank Flag Link Mon Sep 15, 2008
Hi Alex,

I don't believe there is a way through Trulia to determine average market time for a specific area. The local Multiple Listing System allows member agents to run such stats. Most local agents should be able to provide you with this information.

Let me know what area you are looking at, and I will be happy to email you some stats.

Yours truly,
Christopher Rich - REALTOR
William Raveis Real Estate
(203) 768-5222
0 votes Thank Flag Link Mon Sep 15, 2008
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