07/06/2023
Hi Friends/Sellers,
You see in the graph below that in January 2018, we were seeing a hundred and one days on the market. Nationally today, we're seeing twenty-four.
🤘Having a shorter average number of days on the market (DOM) in the housing market is generally considered great news for sellers and can indicate a strong market. Here are a few reasons why a low DOM is seen as positive:
👆Increased buyer demand: When homes sell quickly, it suggests a high level of buyer interest and demand in the market. This can lead to competitive bidding situations and potentially higher sale prices for sellers.
🤞Favorable pricing: A shorter DOM often means that sellers can price their homes competitively and still attract interested buyers. It indicates that the market is absorbing inventory quickly, which can be advantageous for sellers.
🤜Efficient sales process: With a shorter DOM, sellers can sell their homes more efficiently, saving time, effort, and potentially avoiding additional carrying costs such as mortgage payments, property taxes, and maintenance expenses.
💪Confidence in the market: A low DOM can boost sellers' confidence in the overall housing market. It indicates that homes are in demand and selling at a relatively faster pace, which can create a positive sentiment among sellers.
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