Oak Harbor Home Sellers – How Quickly Can You Move?
Often when I speak to someone who wants to sell their Oak Harbor home, they have an immediate need. The same is true for those who are wanting to buy a home. Motivation is a key factor in how quickly someone wants to buy or sell. When they are ready, no time is fast enough for finding or selling a home!
How Long Should It Take?
So, how long then should it take to sell a home? How long do you feel the buying process should take? Quite a few home buyers and sellers may guess at that number, but did you know that you can actually view it from a statistical standpoint?
Cumulative Days On The Market
When a home is listed for sale in our Multiple Listing Service, that time begins to be calculated using “Cumulative Days on Market” or CDOM. Basically this tracks the time from when the home is first listed into the MLS until an offer has been made and accepted by the seller. Once an offer has been accepted, the home’s status in the multiple listing service changes to a pending versus active status.
If a home has been on the market for a longer period of time, sellers may be more motivated thus more willing to negotiate on the price they are willing to sell at, so that number can be very helpful to buyers in their negotiating . It is possible to remove a listing from an active status for a variety of reasons and then re-list it as a new listing, so checking the history of a property listing is very helpful and valuable, too, to make sure the CDOM status is accurate.
The CDOM figure can be a helpful guideline to home sellers also, but only in a very general sense. Property condition, location, interest rates and other Oak Harbor market factors can result in increased and decreased CDOM statistics, so it’s a hard statistic to base your plans on.
Let Us Help You Understand the Statistics
If you are curious about a home for sale, or would like to sell your Oak Harbor home, please call us at 360-675-5811, email us or submit the form below. We would love to help you use CDOM for a statistical tool to either sell your Oak Harbor home or to negotiate a purchase. Let’s determine how quickly YOU can move!