The Law of Supply and Demand
applies here. In a strong Seller's Market, Inventory is low while
Demand is high. A Comparative Market Analysis
(CMA) often includes Days on the Market
(DOM) for each comparable house sold. When real estate is
booming and prices are rising, houses may sell in a few days.
Conversely, when the market slows down, average DOM can run into
many months.
We can tell you whether your area is
currently a buyer's market or a seller's market. In a seller's
market, you can price a bit beyond what you really expect, just to
see what the reaction will be. In a buyer's market, if you really
need to sell promptly, offer an attractive bargain
price. |
Consider Market
Conditions
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