Average Days on Market
If you’re selling a home in Hot Springs Village, your Realtor should be talking to you about “Days on Market til Sold.” This term is widely used to determine how long it should ordinarily take to sell your home in today’s market.
In Hot Springs Village, for the first eight months of the year, the “Average Days on Market til Sold” for homes is 113 days. That’s about 3.8 months (ref. CARMLS).
To determine the “Average Days on Market”, simply take the homes sold for a particular time period and add up the number of days those homes were on the market before they sold. Then, simply divide that number by the number of homes that were sold. The resulting number gives a seller a reasonable expectation about how long it should take to sell their home assuming they have priced it correctly and they don’t have any other issues that might complicate the sale.
According to Jeff Hollansworth, owner of RE/MAX in HSV, this is an important number for several reasons. “When you compare the “Average Days on Market til Sold” with previous time periods, you’re able to determine whether the market is improving,” said Hollansworth. “Two years ago it was taking almost 5 months to sell a home and clearly we are moving in the right direction.”
Being able to accurately price a home is one of the most important things an experienced Realtor can do. “RE/MAX agents have multiple resources to assist with this process and it’s one of the reasons Villagers overwhelmingly choose RE/MAX,” said Hollansworth. “Incorrect pricing will either cause the home to linger on the market or conversely will put the seller in the position of leaving money on the table. Neither of these are good outcomes.”
When selling one of your largest assets, look for a company with proven results. Through June, RE/MAX agents sold, on average, 290% more homes than non-RE/MAX agents. National exposure and the strongest marketing available, is what you need to sell your home. No other franchise sells more homes than RE/MAX.