Days on Market

Days on market is an undervalued tool or indicator that can be used to assist in the negotiation and purchase of property. It’s and indicator as to the market conditions and could assist with your next real estate purchase negotiations.

Days on Market:

• This is a crucial metric used to determine the state of the real estate market. A low number of days on market indicates a sellers' market, while a high number of days indicates a buyers' market. The 'Days on Market' is often used in conjunction with other key metrics to leverage the best outcome for a property sale.

Lead Indicator:

• 'Days on Market' is considered a lead indicator, meaning it can be used to predict future price movements. By analyzing this data, you can determine if the market is favorable for buyers or sellers, and make informed decisions about your property sale or purchase.

Leverage:

• The number of days a property has been on the market can help you understand the leverage you have as either a buyer or a seller. A short time on the market indicates a strong position for the seller, while a longer period can give buyers more leverage.

The Numbers:

• The information provided suggests that less than 30 days on the market indicates a sellers' market, 30-70 days is a neutral market, and 70+ days is a buyers' market. These numbers provide a clear indication of the state of the real estate market, allowing you to make an informed decision about your property sale or purchase.

Remember, these are general guidelines and it's always best to seek professional advice before making any decisions.