You’ve probably heard the notion that a more-expensive house takes longer to sell. Is that true in today’s fast-paced, low inventory era?
2016 Detached-Home Sales
| Area | ||
| All SD County | ||
| NSDCC | ||
| La Jolla |
We know that the $560,000 market has been hot as a pistol, yet on average, it only takes three more weeks to sell a house in La Jolla.
What does the average DOM mean?
It’s the average time before a listing is the best deal in its marketplace.
Because sellers are so consistent about wanting more than the last guy, you could say it’s just a matter of time – you just need more listings to hit the market around you.
If a listing is on the market for months and not selling, something must be really wrong – but price will fix it!
Isn’t it already too late to lower the price after not selling for months?
Sellers who finally lower their price after months do risk giving the buyers the impression that they might be desperate. But the only alternative is to wait, which most do.