The length of time a property has been advertised can reveal useful information about its position in the market. A long advertising period may indicate:
- an unrealistic asking price;
- poor presentation;
- weak demand for the property type;
- legal or technical complications;
- inaccurate property information;
- changing market conditions.
Days on market should never be interpreted in isolation. Some unique or expensive properties naturally require longer selling periods. However, when several similar properties remain available for a long time, their asking prices may not represent achievable market values.
Add market timing to your comparable analysis
Try EstimaRelated articles
How Property Condition and Photographs Affect Valuation
Property condition can significantly influence buyer interest, expected renovation costs and the final achievable price.
What Price Reductions Tell Us About the Market
A price reduction is a signal that the original asking price did not generate the expected response.
How Location and Micro-Location Influence Property Value
City-level and district-level averages are useful, but buyers experience property at the street and neighbourhood level.