CONTINUING STATISTICAL BREAKDOWN OF TRIANGLE HOME SALES FOR 2007
Triangle, North Carolina. Days On Market. One of the first things buyers ask about a home they are interested in is “How many days has it been on the market?”. The idea behind the question, of course, is that if it has been on the market for quite a few days they can make a low ball offer and get the home for a much more favorable price. In the vast majority of cases that’s not the case but it doesn’t keep them from thinking so. Days on Market is a misleading figure at best; espcially for new homes. Some builders put information on a home in the Multiple Listing Service shortly after construction starts so that people who might be interested in the area the home is in and who are looking for a particular kind of home may find it and, in effect, do a presale. As time goes by the potential buyer will have continually less options. Depending on the stage the home is in when they evidence their interest, the options will range from the substantial items such as flooring, carpeting, lighting and kind and type of tile down to matters of relatively minor consequence such as paint colors. Also, if a home has been on the market six months the Days On Market will, of course, show as 180 days. However, if the seller then changes to another agent the re-listing will again start with one day on the market. Thus, when buyers become interested in a home they are well advised to ask their agent to check the History of the listing (at least in this area) to determine the actual number of days the home has been on the market. At any rate, here are the days on market, through November of 2007, for Durham, Johnston, Orange and Wake Counties of homes that sold.
Durham - 0-30 days - 68, 31-60 days - 53, 61-90 days - 36, 91-120 days - 31, 120 and over - 62 Johnston - 0-30 days - 54, 31-60 days - 44, 61-90 days - 32, 91-120 days - 23, 120 days and over - 43 Orange - 0-30 days - 18, 31-60 days - 20, 61-90 days - 18, 91-120 days - 9, 120 and over - 25 Wake - 0-30 days - 346, 31-60 days - 260, 61-90 days - 187, 91-120 days - 135, 120 days and over - 217. There are sales where no Days On Market are Given. I have not shown these.
John Fish (919) 696-3474 Email: Marvmax@mindspring.com Website: www:JohnFish.com
