Posts Tagged ‘home listing’

Cincinnati Home Sales - Days On Market

Monday, February 25th, 2008

Part of being a good real estate agent is understanding how to price a home to sell. The facts are that if your home is initially priced correctly it will sell and not languish on the market. Looking at the inventory within our office we saw a significant disparity between Days on Market between the sold / pending and what is active. SALABLE properties spent an average of just 88 days on the market while properties waiting to sell average 143 days on the
market - and they’re NOT SOLD YET! Look over the chart at our sample data from our office:

Active

Listing Price Range

Quantity

Average DOM

$30,000 thru $39,999

1

140

$50,000 thru $59,999

2

392

$60,000 thru $69,999

5

258

$70,000 thru $79,999

11

288

$80,000 thru $89,999

9

216

$90,000 thru $99,999

4

95

$100,000 thru $119,999

13

167

$120,000 thru $139,999

20

152

$140,000 thru $159,999

10

107

$160,000 thru $179,999

17

206

$180,000 thru $199,999

12

99

$200,000 thru $249,999

20

112

$250,000 thru $299,999

6

138

$300,000 thru $349,999

9

68

$350,000 thru $399,999

8

53

$400,000 thru $449,999

2

100

$450,000 thru $499,999

8

91

$500,000 thru $549,999

2

79

$550,000 thru $599,999

6

93

$600,000 thru $649,999

3

99

$650,000 thru $699,999

2

119

$700,000 thru $749,999

1

30

$750,000 thru $799,999

2

44

$850,000 thru $899,999

2

111

$900,000 thru $949,999

1

23

$1,250,000 thru $1,499,999

1

188

$1,500,000 thru $1,749,999

2

73

179

143

Summary Price Information

Minimum

$39,900

Maximum

$1,650,000

Average

$265,340

Median

$179,900

Pending

Listing Price Range

Quantity

Average DOM

$40,000 thru $49,999

1

162

$60,000 thru $69,999

1

19

$80,000 thru $89,999

1

92

$90,000 thru $99,999

1

16

$100,000 thru $119,999

2

144

$120,000 thru $139,999

2

34

$160,000 thru $179,999

1

112

$180,000 thru $199,999

2

211

$200,000 thru $249,999

3

115

$250,000 thru $299,999

2

63

$300,000 thru $349,999

1

72

$350,000 thru $399,999

2

41

$550,000 thru $599,999

1

34

$600,000 thru $649,999

1

99

$1,500,000 thru $1,749,999

1

0

22

88

Summary Price Information

Minimum

$49,900

Maximum

$1,682,000

Average

$303,840

Median

$202,450

Information has not
been verified, is not guaranteed and subject to change.
Copyright ©2008 Rapattoni Corporation. All rights reserved.

As home sellers it is important to always remember that you home is worth what the buyer is willing to pay for it. In a slower market sellers must balance their desires for maximum price with an understanding that an overpriced listing could sit idle for well over a year, and will most likely sell only after numerous price reductions. If you are looking to move up in this market read our November post on the price and inventory of the Cincinnati housing market. You will learn how moving into a larger home makes financial sense in the long run if you do it is a slower market.

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Posted in Cincinnati Real Estate, Home Buyer Resource, Home Seller Resource, Homes For Sale, Mortgages and Finance | 1 Comment »