what is the average length of time to sell in Brookline if priced competitively?

Asked by Dufrez, Brookline, MA Wed Sep 30, 2009

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Tean Wong’s answer
Tean Wong, Agent, Boston, MA
Tue Nov 2, 2010
The way sellers and buyers see things are not the same. You might say, this is a very good price, what the most important opinion is from the market. You should really talk to someone who knows the market, and pick his/her brain on how much it should be listed for, how to market it, what is the market condition now and in the next few weeks. Please take it more seriously than you think the selling process will be. The idea you have now might not be the same after you put the property in the market.
Web Reference:  http://www.teanwong.com
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Michelle Lane, Agent, Chestnut Hill, MA
Sun Oct 25, 2009
All homes for sale have a market value that is determined by looking at recent sales of comparable properties and other relevant market factors. Now if you were to price the home 5% under that, the home would probably sell within the first 2 weeks. If you were to price the home10% under that, it would likely get into a bidding war right away. Conversely, if you were to price at market value, the home could take up to a month to sell . The more above that price you go, the longer it will take to sell and the less likely you are to get market value. I know that sounds counterintuitive. But if you price too high and the home lingers buyers start to think a) something is wrong with it and b) that you are getting desperate so they bid lower.

Aside from that, the average time to sell varies by factors such as is it a condo or a house? how many bedrooms? size, etc. Because, of course, real estate is a market of supply and demand.

If you have not already sold the home and would like me to give you my assessment of market value and where to price it in order to sell in your desired time frame, feel free to contact me.

Michelle Lane
michelle.lane@commonmoves.com
http://www.safeholdrealty.com
0 votes
Matt Bless, Agent, Brookline, MA
Thu Oct 8, 2009
The average days on market for all condos currently "under contract" in Brookline is 74 days. I would say, though, that if you are competitively priced you can expect to have an accepted offer within 30 days. Keep in mind that once you have an accepted offer, banks take a minimum of 30-45 days to close on loans these days.
Web Reference:  http://www.mattbless.com
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