The number of days on market for a given property can impact how it is viewed by potential buyers. Many days on the market can lead to buyers making assumptions that may or may not be accurate. They may think there is some problem with the house, or that it is grossly over priced, or that the sellers are not realistic or willing to consider and negotiate lower offers. Why else would it not have sold in such a long time? They may also think that the owners may after so long a period on the market be susceptible to a low ball offer. In my experience nothing much good happens after a really low ball offer.
So the question is at how many days on market is too many? And what can you do about it?
In today's Market it doesn't raise too many eyebrows if DOM is say 200-300 days. Buyers are used to seeing this, it is pretty normal. Above 300 though, in my opinion, begins to create those assumptions and can lead to fewer showings and perhaps disrespectful offers.
in Queen Annes County, including the major areas of Stevensville, Chester, Grasonville and Queenstown properly priced homes that are in good shape for the most part sell in the low end of this range.
My advice, if you find yourself with a home for sale in November with 200 DOM or more consider taking it down for 90 days during the chilly months and holiday season around Thanks Giving.
After a minimum 90 day break from the multiple list system your home can be re-entered as a fresh listing with zero days.
The Jimmy White Team at Long And Foster has an excellent off season marketing plan that will keep your home promoted during this time but achieve a reset of the DOM. Contact Jimmy White at 4103203647 to discuss if this strategy is right for you and for expert real estate advice.