Admin

Spam prevention
Rainmaker
1,641,879
Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, CFSP
Big Block LPT Realty 858.232.8722 - La Jolla, CA
Coastal San Diego, Veteran's & Retirees Services

The days on market stigma is 100% related to the average days on market for that area in that market at that time. I have had listings in markets where 10 months was average and 30 would have been a dream. In today's market, 30 days on the market, likely isn't a stale property it's just unrealistically priced one and needs to be corrected. Today's market produces "castle-syndrome".

 

Jun 29, 2024 07:32 AM
Rainmaker
1,030,385
Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

Well, Redfin thought that my last listing was worth 610K. It sold - and appraised - for 715K. So there is that. In my market area, we've seen a sudden change, seemingly overnight, with more listings not selling on the first weekend, less buyer competition, and more listings with price adjustments. It's temporary, but with market shifts when a listing becomes stale is also shifting. IMHO, it always depends on the location and the house. 

Jun 29, 2024 06:49 AM
Rainmaker
5,389,961
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

I don't like general metrics like that. If the average DOM in an area is 50 days, why would a listing be stale at 30 days?

Jun 29, 2024 06:39 AM
Rainmaker
2,872,647
Richard Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

DOM (days on market) is more relevant today and has a history of coming & going for being important. There was a time when people demanded & held out for top dollar no matter what, indifferent as to whether it sells or not. The economy at the time dictates how important DOM is backed by the attitude concerning it. Now, high interest rates, high prices & take it or leave it (if you can get it) is passing thru. Agents must know these things

Jun 29, 2024 06:35 AM
Rainmaker
878,941
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Depends upon the listing but if it's a "typical" listing, I agree & might go so far as to say it's a generous time frame.

Jun 29, 2024 05:50 AM
Rainmaker
1,113,198
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Redfin hasn't been to my town, clearly.

The answer depends entirely on the property type, location and a long list of 'whys' . . .  

Here's the bigger problem: Agents buy into this crap. 

If a listing's been on market for a while, how does the 'bot' know whether the seller needs to move it slowly, has rejected offers with undesirable terms or maybe seller's on a 6 month cruise and can't sign paperwork for a while? 

So when an agent comes at me with "Well it's been on the market 799 days" as justification to make a lowball offer . . . maybe seller has the luxury of time to get their desired deal, dude!

Jun 29, 2024 07:22 AM
Ambassador
3,447,691
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

 

That would be "dead man walking" in my market.  

Jun 29, 2024 06:52 AM
Rainmaker
5,559,806
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

In reality, Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets nailed it!

Jun 30, 2024 04:22 AM
Rainmaker
5,350,963
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I agree with Nina Hollander, Broker ...look at the average days homes are on the market in your area and then calculate if a listing is stale.

Jun 29, 2024 01:43 PM
Rainmaker
929,885
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

In the current crazy market, maybe; normally 30 days is not a big deal, but maybe time to reconsider the price somewhat. 

Jun 29, 2024 11:17 AM
Rainmaker
944,471
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

I say it depends on the local market.

Jun 29, 2024 09:47 AM
Ambassador
6,767,769
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Depends on the listing, cookie cutter listings like redfin likes are generally off the market in a weekend.

Jun 29, 2024 07:54 PM
Ambassador
5,203,184
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Depends on the local market, condition, price point, location among other issues.

Jun 29, 2024 01:55 PM
Ambassador
2,131,237
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Home again, home again...

All real estate is local.

Jun 29, 2024 01:20 PM
Rainmaker
1,546,324
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

My thoughts:  LOL!!!

Jun 29, 2024 11:46 AM
Rainmaker
1,657,808
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC • Short Sale • Probate

Well, that's why maybe we see so many cancelled/just listed listings with the same agent? 

Jun 29, 2024 11:19 AM
Ambassador
3,223,757
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

depends.  some listings are unicorns that take a long time for the buyer and others are unicorns that everyone wants.

Jun 29, 2024 10:51 AM
Rainmaker
1,478,941
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

What makes you think I care what Redfin says?

Jun 30, 2024 09:58 AM
Rainmaker
796,639
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Sometimes a house on the market only ten days can be a stale listing.  It all depends on the current status of the local market.

Jul 16, 2024 11:46 AM