How Important Is DAYS ON MARKET These Days

How Important Is DAYS ON MARKET These Days

Days on market (DOM) has historically been a deciding factor on how buyers view the value of a listed property. Longer sitting listing are considered "stale" and receive fewer and lower offers. Sellers might begin to panic the longer their home sits on the market. 

However, many potential buyers put plans to move on hold during the corona virus stay-at-home orders. Others viewed listings online but hesitated to make offers before seeing the properties in person. Consequently, DOM may not be as straightforward of an indicator of home value in the current market as it once was.  In the Columbus market the trend right now is people are making offer site unseen and properties are going into contract in hours and days. 

According to buyers should also weigh other important data, such as local market conditions, neighborhood comps, location, and home improvement potential. While still a factor to consider, don't let a higher DOM deter you from making an offer on a house you love. 

Karin Waterschoot-Perez Headshot
Phone: 614-774-1741
Dated: August 28th 2020
Views: 312
About Karin: Executive Vice President of Sales Experienced Realtor, Karin Waterschoot-Perez, currently serves ...

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