How long will it take my home to sell?

Posted on | January 21, 2010 | No Comments

“How long will it take for my home to sell?” This is a question I hear from Cincinnati home sellers a lot these days. For a little more clarity on the subject, I want to explain two concepts that you’ve probably heard your Realtor talk about.

Days on Market and
Absorption Rate

Days on Market (DOM= our abbreviated version) is simply the amount of time a home was on the market before the seller accepted a contract and the home went “pending sale.” Although you won’t be able to see this figure when you’re looking at Cincinnati real estate listings online, your Realtor can provide this to you. Days on Market does start over at zero when an expired home re-lists after it has expired. Because of this, you should look at the CUMULATIVE Days on Market for the home to get a true picture.

Absorption Rate is the rate at which homes sell. If there are 10 homes on the market in your neighborhood, and only 5 homes sold all of last year, this means it could take the market two years to absorb (or sell) that current inventory of 10 homes. This figure assumes that no new inventory comes on the market.

Both of these figures are very important as you plan how fast you need to sell your home. If there is two years of inventory in your neighborhood and you need to sell by next month, you will need to come up with a marketing approach that will make sure you are the first to sell out of the group.

For the days on market or absorption rate for your specific Cincinnati neighborhood feel free to get in touch with me and I’ll be happy to provide this to you.

Category: Cincinnati Sellers

Comments

Recently Written

First Time Home Buyer Guide:

Are you a first time home buyer or just in need of some creative ideas for your home? This Creative Ideas Guide from Lowes features great tips on painting, how to be more green, and easy updates to make your home standout.

Welcome!

Want to follow the trends going on with Cincinnati Real Estate? Head straight over the Cincinnati Real Estate Blog or scroll down some more to learn more about Cincinnati's great neighborhoods. Here you'll also find out more about the marketing services I offer if you are Selling your Cincinnati home or how to become a VIP Buyer if you're Buying a home in Cincinnati.

Subscribe to our feed

Search Oakley Homes for Sale

Search Hyde Park Homes for Sale

Search Norwood Homes for Sale

Search Anderson Homes for Sale

Search

Need a question answered right now? See if I'm online below.

If I'm not online, the quickest way to reach me is to call or text message 513.259.8333 or you can always reach me by email at Matt@MattClarkCincinnati.com

Cincinnati Real Estate Blog