I wanted to know about current days on market for detached homes sales. How many days?

Asked by Dana, Portland, OR Thu Aug 18, 2011

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14
The Stephen…, Agent, Portland, OR
Tue Nov 22, 2011
If you have a hard time finding it online, myself or any other agent can help you, just send them the address.
0 votes
Rosina del M…, Agent, Alexandria, VA
Tue Nov 8, 2011
I do not know why you need to know, but most listings on the Internet including Trulia and its competitors will have that info on the lower part of the listing. Usually it says something like xx days in Trulia.
0 votes
Rich Golze, Agent, Vancouver, WA
Tue Nov 1, 2011
Are you selling a home?
Are you buying a home?
Are you Leasing with an Option?

How soon do you need to sell/buy?

There are many things that drive the days on market.

If you want general data, call an agent and have them pull it out of the MLS.

If you want hard data, call an appraiser but you will have to pay for this info.

Depending on what you want, I can make a recommendation as to who to contact but you have to be more specific as to what you are looking for and how you are planning on using the info to get the best information for your situation.

Rich
0 votes
Manisha Jain, Agent, Beaverton, OR
Tue Sep 6, 2011
Hi Dana,
First thing you need to do is to narrow down your search to the specific neighborhoods because each neighborhood has different market based on what it has to offer. Pricing is another important factor to consider, if a home is not priced well it will sit in the market for longer time. Short sale and Foreclosed homes also take longer than average days. My advice will be to contact a Realtor and ask for specific neighborhood. Good Luck!


manisha.realtor@gmail.com
Web Reference:  http://www.Manishajain.com
0 votes
Tom Inglesby, Agent, Portland, OR
Fri Aug 19, 2011
Days on market is wrapped around neighborhoods. You have many answers and they all vary. Pocket areas are selling fast under 30 days and price ranges really play a part in how fast a house could sell. Some areas are slow in all price ranges because of short sales and REO. Give us a price range and area and all of us can be more specific. But when homes are priced right they sell quickly because buyers know values after looking for a while and there are many shoppers out there and many cash buyer. Good luck,
Tom Inglesby, Broker
0 votes
Dave Sutton, Agent, Portland, OR
Thu Aug 18, 2011
"Average" is what kills a meaningful answer to your question. If a home doesn't have anything spectacularly unusual about it, is in good condition, and has not sold in 30 days, it is over priced. There are lots of sellers who won't believe that it's the market, not them (and not the realtor) who sets the price of their home. "Average"" includes homes that have been on the market for a year without meaningful price reductions. To find the market price today, listen to your Realtor's CMA numbers. Price it at market. If it hasn't sold in 30 days, lower the price by 5%.

In July, the average detached Portland Tri-county area home in a "traditional" (not REO or Short) Sale sold for 94% of list. Why not price it right and sell for 100% of list (or more if it generates multiple offers).
0 votes
Dragos Tavir…, Agent, Portland, OR
Thu Aug 18, 2011
The newest released RMLS statistics show an average of 140days for the time frame. However this is a general result compiled on lots of sales in the area and it is not accurate at all because there are different areas in Portland Metro Area each of them with different characteristics. And each of these areas have specific neighborhoods where the sales go faster or slower depending on each neighborhood attractiveness or on every single property price or shape or who know what. that's why, if you need a more specific answer, you need to address a Realtor who can do some reasearch on a specific area and based on more details you may have regarding a property in that particular area. if I can help you in any way please feel free to contact me at your convenience. all the best.
0 votes
C. Mark Pier…, Agent, Portland, OR
Thu Aug 18, 2011
Hi Dana,

I think its important to understand why days on market is why they are as high as they are. A properly marketed home in good showing condition should sell in 30-60 days maximum for lower and mid priced homes even in this market. Higher segments usually take a bit longer. Overall a 6 month supply of homes in a market is generally considered healthy and the Portland Metro area has averaged about 6.5 months the last 4 months.

The average days on market is what it is as many properties are priced incorrectly compared to the competition and effectively are barricading them from being shown or getting offers. Short sales are also running up the DOM statistics. Of course there are many variables, but at the core you can establish a mean.

With the general direction of the market it has not helped sellers to be improperly positioned price wise as the market always has and always will feed from the bottom.
0 votes
Marge Bare, Agent, Portland, OR
Thu Aug 18, 2011
Hi Dana,
With all the info you can get online these days, that one is not as easy for you. But all agents can get that information easily for you, including weekly, biweekly or monthly reports over time. I'd be happy to help. It would be best if you were more specific and picked an area or areas you like, as it does vary greatly between neighborhoods in the metro Portland area. Do you have a particular area or neighorhood in mind?
Marge
Web Reference:  http://www.betterhomesnw.com
0 votes
Kevin Sucher, Agent, Beaverton, OR
Thu Aug 18, 2011
Hi Dana,

The RMLS days on market is not accurate because they do not tract listings that come off the market then go back on the market very well. A better measure is absorption rate that is the number active divided by the average sold per month. This is 210 days.

Let me know if you need anything else.


Kevin Sucher
Principal Broker
503-214-4139
ksucher@prunw.com
0 votes
Jesse Dill, Agent, Beaverton, OR
Thu Aug 18, 2011
Dana,

I show an average of 130-150 days on market. Email me if you would like a full market report(PDF) showing stats for all areas of Portland.

Best Regards,

Jesse Dill - Principal Real Estate Broker
John L Scott - Real Estate
Cell: (503) 969-3236
eFax: (503) 214-5568
Website: http://TheJesseDillTeam.com
0 votes
Jesse Dill, Agent, Beaverton, OR
Thu Aug 18, 2011
Dana,

I show an average of 130-150 days on market. Email me if you would like a full market report(PDF) showing stats for all areas of Portland.

Best Regards,

Jesse Dill - Principal Real Estate Broker
John L Scott - Real Estate
Cell: (503) 969-3236
eFax: (503) 214-5568
Website: http://TheJesseDillTeam.com
0 votes
Lana Lavenba…, Agent, Grants Pass, OR
Thu Aug 18, 2011
Grants Pass shows 150 days but that is in the Grants Pass area and that was for the month of July. They do change monthly here.
0 votes
Stephen Ervi…, Agent, Clackamas, OR
Thu Aug 18, 2011
The average marketing time / days on the market in Portland is approximately 149 days (as reported by the RMLS in a monthly report dated 7/2011.) This is for the entire metro area. Specific areas will see different average days on the market depending on numerous factors including the appeal of the neighborhood, number of homes for sale in the neighborhood and other factors.

I hope that helps.

Stephen Erving
Keller Williams
0 votes
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