How does market time affect pricing on a house for sale ?

When you are looking at houses, pay attention to the market time for that particular home when you look at it. That number is pretty much hidden in plain site at the top of your MLS listing fact sheet, and it would appear as trivial as MT 156. As a buyer, you may not be aware that MT 156 means that the market time is 156 days on that listing.

Why would this matter to you, as a buyer? Two big reasons! SALES PRICE and TERMS OF SALE I am assuming that your agent would have been educating you as you are looking at homes as to what the average market time is for a property in the town(s) that you are interested in.  If the average market time in your preferred town is 75 days, well then, you may have an built-in opportunity for additional price negotiations. You may also be able to negotiate terms that are more agreeable to you.

This involves some research from your agent, like checking on the homeowners financial status, the loan status on the property, finding out the reasons for the move from the listing agent, the sellers motivation, whether or not there have been previous offers, and checking the listing history of the house.

I conduct this research and pay membership fees to various sources  to find out this information, some of which is not readily available or easily available to the public.  Obtaining  information  from the listing agent is quite helpful, and most llisting agents will tell buyer agents about the sellers motivation. Honestly, I feel that is a breach of  fiduciary responsibility that I do not cross when I represent a seller - but, when I represent a buyer I do not have a fiduciary responsibility to that seller, so my loyalties are with my client.

Knowing town statistics and market data besides having a market analysis on the home you want to buy is very important. That is why I include them for  Easton, Fairfield, Norwalk, Trumbull and Westport on a weekly basis.  I conduct market research for  other towns in my service area, I just do not publish them online. ... and truly, you shouldn't ever have to ask your Realtor for this information- if you do, it's time to change agents and get the professional advice that you deserve.

Comments

[Boligsalg]

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