Behind the (Days on the Market) Numbers

Monday, June 30th, 2008 @ 9:30 am | Market Trends, Real Estate, San Francisco

One’s?perception of the San Francisco market is a bit deceiving without looking ??œbehind?the numbers??? today.? No one has had to really look ??œbehind the numbers??? when there is high demand and low inventory.?? One can gauge the market by how quickly properties sell (looking at the?DOM – days on market).?

?San Francisco????s 2006 to 1st Half of 2008 Days on Market Graph for Homes & Condos - California

As in any market, if two comparable properties come on the market in a particular neighborhood at the same time and one sells and the other one doesn????t???.it is pretty easy to determine that?either the marketing, the price, the terms, and/or the condition attracted the buyer(s) to one property vs. the other.?

Without looking beyond the?graphs, the averages, and the medians, one is unaware the number of?properties that are selling?quickly?from those that are taking their sweet old time.

To understand?which market a seller is in and/or buyer is looking in, one needs to separate the days on the market, not by price range but by speed.?



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