what is the average length on the market before a home sells?

Asked by wilsonbritt, Coronado, CA Tue Aug 27, 2013

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8
Kari Shea, Agent, San Diego, CA
Fri Aug 30, 2013
Hi again Wilson,

J.R is correct, the market is "slowing" as the laws of supply and demand are always at work.

From January 1, 2013 to July 1, 2013, the average number of single family homes (SFR) on the market was 3,200 homes.

The low in that time frame was 2,800 homes.

For the past 2 years, there are just under 2,100 homes closed per month (average). With 2,100 buyers and 3,200 homes, the market pace is pretty quick.

As of August 1, 2013, there were 4,525 homes listed, which is a 41% increase in supply.

Currently there are 4,601 SFR's on the market. 18 Months ago, there were 5,500 homes listed. You can clearly see how "the competition" affects the time on market.

Let us know if we can supply you with any further information.

Best,

Mark & Kari Shea
Shea Real Estate
National Association of Realtors
CA DRE License 01713506
0 votes
JR Thrasher, Agent, San Diego, CA
Fri Aug 30, 2013
Average days on market in San Diego County year to date is 48. Average days on market for July is 88. Things are slowing down. I'll put a link to the market statistics page I used in the web reference below. Just type in the zip code for details about a specific area.

J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
(619)929-0105
0 votes
Chad Roberts, Agent, Henderson, NV
Wed Aug 28, 2013
In Las Vegas and Henderson, NV, it is a good time to sell a home. Given our current market, pending the property’s condition, location, etc, they do not stay on the market long. Interest rates are low and it could be advantageous for buyers to lock in a low rate, an advantage for someone interested in selling their home. Generally speaking, the best time to sell a home is during the summer months, but the bottom line is, whatever time is best for the seller is when it should be listed. As mentioned by other professionals, the home location, size, condition, list price, presentation, and the zoning of schools weigh heavily upon how long it sits on the market.

You can speak with a local, experienced Realtor that is knowledgeable about your current market. Professionals can provide insight about your options and how it best serves your budget and property needs.

Regards,
Chad Roberts
Broker/Salesperson
Realty One Group
0 votes
Kari Shea, Agent, San Diego, CA
Wed Aug 28, 2013
Hi Wilson,

There are 7 factors that affect your time on market:

1. The home (Size, BR's, BA's)
2. The condition (Excellent, Good, Fair, Poor)
3. The location
4. The competition
5. Marketing
6. Time of year (Spring, Summer, Fall, Winter)
7. The price

To have your home move quickly, you have to adjust for each of the 7 factors. You cannot change the location, the competition or the time of year, however, you can position yourself to be the BEST home to purchase in your market place. Let us know if we can assist with any of your real estate service needs.

We hope this helps,

Mark & Kari Shea
Shea Real Estate
National Association of Realtors
CA DRE License 01713506
0 votes
Dusty Brazil, Agent, Del Mar, CA
Wed Aug 28, 2013
Hello Wilson,
I won't bore you or anyone else here by being redundant. I assume that the DOM will depend on what price point your home falls into in the Coronado Real Estate market. To keep it simple, I have 3 simple suggestions ( that I've stolen from another source I've seen elsewhere).

1. Price it right
2. Price it right ... and

3. Yep.... you guessed it... Price it right

Buyers in todays market are skeptical for a variety of reasons, especially in the second home market, like in Coronado. Buyers know it's really hard to get a "good deal" these days. So, if you price it right, or even a little below value, you're sure to get the most activity, the fastest, and sell quickly. The worst case is that you create a bidding war ( which is how the market has been the past 2 years.. but we've seen a lot less of this the past few months county wide) and sell it at the current value ( comp value if there are any recent comps).

To help you out even more ( not like my suggestion above is rocket science) I've created a page that displays all recent home sales in Coronado by map. This is gonna be a great way for you to find your own comps closest to your home, geographically, and specific criteria, ie property type, bedrooms, sq ft etc.

Here is the link for you to view recent sales in Coronado.
http://livingincoronado.com/coronado-recent-home-sales/

Another suggestion I have is to fill out my form to get a custom CMA for your home, which I think is the best way to really answer your question about Days On Market.
http://livingincoronado.com/selling-a-home-in-coronado/

Best of luck,

Dusty Brazil
http://www.LivinginCoronado.com
Pacific Sotheby's International Realty
(760) 207-7245
0 votes
Media Fettin…, Agent, San Diego, CA
Tue Aug 27, 2013
Wilson,

I won't sugarcoat it. You're looking at a different length of time now coming up on the fall and then winter months than it was in the summer. There are more people searching in the summer, increasing competition and prices. If you're planning on selling your home now, the sooner the better. Find a realtor that is willing to do what it takes to sell your home at the right price. I'd love the opportunity to meet with you and discuss further.

Warm Regards,

Media Fettinger
Realtor
Century 21 Award
MFettinger@century21award.com
0 votes
Molly Cooper, Agent, Coronado, CA
Tue Aug 27, 2013
Hi Wilson, The average amount of days a home in Coronado will be on the market is 80 days as of July. This number is continually fluctuating with the changes in the market as well as the time of year. For example, in May, the average was 96 days. However, days on market is down 41.2% when compared to last year, which is good news for sellers. FYI, I got these numbers through trendgraphix which collects its data directly from the mls. If you'd like, I can email you the actual graph with this data. I have also included a link to a Coronado market update I wrote last week.
0 votes
Alan Kurpiew…, , California
Tue Aug 27, 2013
Hello,
The length on market can depend on a number of factors including how the local market is doing, as well as how the home to be sold is priced and marketed. If you like, I can provide you with a complimentary Market Analysis on a particular home you are looking to sell. Just provide me with the address of the property. Feel free to contact me directly, and I will get it to you shortly.

Best regards,
Alan Kurpiewski, REALTOR
CA BRE Lic. 01912043
(619) 35-HOUSE
(619) 354-6873
http://www.homes4schools.com
homes4schools@gmail.com
0 votes
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