What Does ‘Days on Market’ Mean and Why Does It Matter to Home Buyers?
The typical number of days on the market is often used to explain how hot the market is in a particular location. In a seller’s market where there are more purchasers than the number of homes listed for sale, the days on market are less due to the fact that of the high need. In a location that has a big number of homes noted for sale, and the home has actually been on the market longer than the other residential or commercial properties, the days on market can end up being a negotiating tool for the purchaser.

As a home’s days on the market creep higher, it gets “stagnant” and prospective purchasers begin to be curious. Understanding a home’s days on market is vital in numerous ways. The average number of days on the market is typically used to describe how hot the market is in a particular location. In a seller’s market where there are more purchasers than the number of homes listed for sale, the days on market are less because of the high need. In an area that has a big number of homes noted for sale, and the home has actually been on the market longer than the other properties, the days on market can end up being a negotiating tool for the purchaser.