What Does The Length Of Time A House Has Been On The Market Reveal About The Home?

When you start looking at homes for sale, one thing you may notice is that each will list the number of days it has been on the market. This number is somewhat important to consider as you shop for a single family home, and here are several things the number of days a home has been on the market can reveal to you about the house.

The number of days tells you if it's a new or old listing

The first thing the number of days will tell you is simply how long the listing has been around. For example, you may notice that a house states it has only been listed for one day. This house would be a new listing. You may also see some homes for sale that have been listed for 30 days, 60 days, or even hundreds of days. The average number of days it takes to sell a house is around 65, and many buyers worry when they find homes listed for longer than this.

It can raise questions in your mind

When a house has been listed for a long time, such as 100 days, many buyers wonder why this home has not sold. If an average house sells in 65 days, is there something wrong with this particular home? In some cases, homes will not sell because they are overpriced. In other cases, homes do not sell quickly because the houses have problems that buyers do not like or want to mess with. Homes can also take longer to sell if there are few buyers looking for homes to buy. There are certain times of the year when homes sell fast, and there are other times when it takes longer for homes to sell.

It can help you determine how much to offer on the house

If you find a house that has been listed for a long time, you could take this into consideration when making an offer on it. A lot of times, sellers will accept lower offers if they have been waiting for months to sell their homes. On the other hand, if a home has only been listed for a few days, the seller might not yet be willing to lower the price on it.

As you search for a home to buy, you might want to view some new listings and some older ones. To get started, talk to a real estate agent about the features you are looking for in a house, and he or she will help you find homes that have the features you want the most.