How long will it take to sell your North Metro Denver Area home? Have you recently placed your home on the market and you keep hearing the phrase DOM? This refers to how long your home has been on the market or Days On Market (DOM). The DOM is commonly found on the Multiple List Systems (MLS). Which tracks how long a home has actually been on the market and for sale. You can look at similar homes that have sold near you and find out how long that home was for sale. This can give you a ballpark idea of how long your home might be on the market. There are many variables that play into it such as time of year you’re selling. Such as buyers looking in that area, and amenities in your home and area. Read below to help you understand how days on the market affects you and your North Metro Denver Area home.
Why Days On The Market Matter?
The reason DOM is even kept track of is that the number gives sellers, buyers, and real estate agents an idea of how well a home is being received while it is available for sale. There are many factors that go into how long a home is on the market. Timing will absolutely affect Days On Market when selling your North Metro Denver Area home. The season that you list your home can make a huge difference. When potential buyers can’t see the amenities near the home. Are you trying to sell your house on a golf course in the middle of winter? Right now the market is going fast! So if there is a home that has been on the market for a while this might be an instant red flag to some potential buyers.
Another huge factor that plays into how long a house can be on the market is the price. The price is the primary variable that determines the number of Days On the Market (DOM) when selling your home. What is the current real estate market telling you? Is it trending up or down? If your North Metro Denver home is valued at $1 million but you set a price of $995,000 for your home. You are likely to see more activity and more potential offers. That’s why having an experienced real estate agent by your side is so helpful. So they can guide you and offer their experience to you.
What If My North Metro Denver Area Home Is On The DOM For Too Long?
Are you starting to become concerned about how long your North Metro Denver Area home has been listed for? You may start to get the feeling that it is your DOM is a poor reflection of your home. Some sellers believe that if their home is on the market too long, then buyers will think there is something wrong with the home. There may be some validity to this in a rising market. But in a falling or flat market, I have found the opposite is true. Feedback from a buyer could be that the seller is just testing the water. Are not ready to sell due to their price being too high. The reality is there is probably something wrong with the price, not the home. The solution is usually either adding value to the home or reducing the price.
Some clients think that removing their home from the market is the solution. But this may cause the seller to miss a buyer. Once again, timing is everything. The notion of taking the home on and off the market so that it will appear as if it is a new listing is silly in today’s world of digital information. The real estate agent representing the buyers will see this activity. Multiple listings and dates and pass this information to potential buyers. It is very rare to sell a home that is not listed for sale in the MLS with a sign in the yard.
Final Thoughts How Can I Help?
If you have any further questions when it comes to how days on the market affects you and your North Metro Denver home please reach out! I always want my clients to have the most up to date information to help them through this time of buying or selling their North Metro Denver Area home. I want to provide my clients with interesting and up-to-date information so they can make informed decisions. If you think that my expertise and positive attitude might be of service to you don’t hesitate to reach out and contact me!
Would you like more information on the North Metro Denver area or the real estate market specifically? If so click here to download my current market report on the area or visit this link – http://christinakernexpert.com/market-report-newsletter/.
Residential Home Specialist & Global Luxury Specialist
Coldwell Banker Residential Brokerage North Metro Office