time on market

These days, what would you consider a long time on the market?

thanks!

Re: time on market

I really don't know. Our place has been on the market for 7 months, but I don't even think that's long anymore, though it's getting there. I have seen some places on the market for almost a year now.

The past summer and fall were complete washouts for most people, and from what I've noticed, it seems as if more homes are moving since mid-January or so. So 6 months or a bit more really isn't that long.

Re: time on market

it depends, but jmo, I think more than 6 months

Re: time on market

there are a few areas I check on daily on MLSLI & other sites & it is not unusual to see a home still listed after 10-12 months. I found that a lot of homes came off MLSLI during the december holidays & now they are back either with new realtors or different pricing or both. So to me that house has been for sale the whole time, the sellers obviously still want to sell it if they relisted it. I just had a market analysis done on my home & several of the comps were listed 130 days or more. I was however impressed with how close to original asking they all got.

Re: time on market

When we looked from Oct-Dec, one house we bid on was on the market for 6 months and they wouldn't budge off their price.

I would say anything from Oct - 186/187 (MLSLI #) is a long time on the market now.

Re: time on market

i saw a house in the early fall/late summer that is still on the market (it was listed last spring.) the seller hasn't budged on his asking price at all. i found that a little surprising, especially since the REA told me that they haven't received a single offer.

Re: time on market

There are a few homes in our area that have been on sale for over a year. One has dropped in price slightly but, the other one hasn't moved at all.

I figure these people really aren't in a rush to sell.

Re: time on market

My hubby and I looked at houses and all the ones that we liked were on the market 6 months or less. I think it depends in the house, the price and the seller. We didn't put bids on anything in hopes that a couple would stay on until we sold but we've only had our house on the market for a month. I think that 6 months is an average (I hope).

Sometimes sellers just won't budge because they aren't in a rush.

Good question.

Re: time on market

Dh & I started looking at house in Sayville last January and there are still houses on the market that we looked at then. A house that we saw wanted $539,000, they just recently lowered their price to $499,000 & that was the first time they lowered it and in my opinion it is still overpriced.