Definition
How long homes typically stay on market in your area before selling. In your neighborhood right now, is it 10 days or 60? This metric reveals whether buyers are plentiful or property is languishing. Market time directly guides pricing strategy.
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Market time varies by location, condition, and price. Strong sellers markets may be 10-20 days; weak markets 60-120+ days. Indicates buyer demand.
Pro Tip
Price according to market time expectations. If homes sell fast, you priced correctly. If they sit, pricing is likely wrong.
Example
Average market time of 30 days in competitive suburban market.