How many days on the market is ideal, when selling your house?: Part 6 of 8 - How To Effectively Price Your Home For Sale

DOM - Days on Market Trends in Contra Costa County

First off, I'd like to apologize for not updating more recently.  Simply put, my personal and professional life filled my days and nights.  We're back to smooth sailing and ready to hit it again. Thanks for following.   Again, if you find value in the information presented here, please forward, share, and make comments.  It helps me keep the flood gates open!

Is 45 days to get into contract too short or too long? YES! Wait, no!...Maybe!  How about 4 1/2 days? The answer to this question depends completely on the seller's willingness to price their property appropriately as well as the motivating factors behind the sale of the home.  

If the trend of DOM is decreasing, it means that buyers are snatching up houses more quickly than in the recent past, further reducing inventory and increasing demand.  How much weight should be put on this data when establishing the sales price of your home?  That is the real question.  Let's dig a little deeper.

Immediately below is the averages days on the market for single family homes in Contra Costa County for the past year.  Note the trend.  Also, keep in mind that these are averages.  One stubborn seller can skew any of this data pretty dramatically.

Graph 1 ~ Average Days on Market for all of Contra Costa County

The past year in Brentwood specifically:

Graph 2 ~ Average Days on Market for Brentwood, CA

If you've had your finger on the pulse of real estate of late then you know that home prices have been going through the roof.  Looking at the above graphs illustrates one reason why.  Although Days On Market is more of an indicator than a cause, it is an important indicator when it comes to establishing demand; a function of price. .  Again, remember mind that these are averages.  In today's market it is not uncommon for homes to go on the market and come back off in as little as "Zero Days on Market."  

Side note:  I don't know why any listing agent would advise a seller to pull their home off the market after less than one full day is beyond me.  There are reasons to do this, but few and far between.  I advise, as many ethical agents do, that leaving your home on the market for at least two full weekends (reviewing offers the Tuesday following the 2nd weekend) give adequate exposure.

Wishing you well in your real estate endeavors.  Thank you in advance for remembering me when the topic of real estate arises, and THANK YOU SO MUCH all the referrals.

Andy Blasquez ~ The last Realtor you'll ever need to look for.
DRE# 01826135

www.andyblasquez.com

Email me at andy.blasquez@gmail.com
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