How do the days on the market affect what your home will sell for?
Hey, this is Nathan Lilly with Conner Real Estate here in Jackson, Tennessee. Just want to make a real quick video on how do the days on the market affect the price that your home will sell for? So keep in mind that your first two weeks on average, that listing your house being sold gets the most eyeballs it does the whole time it's on the market. So and it's also a pure perspective thing as well. So your property could be marketed wrong? It could not be getting that the level of service it deserves, your property could be in distress. There's a lot of things that need to be done. Or number three, it could be overpriced. Those three things are normally the main cause of a property that's sitting on the market for, let's say, over a month in this market, as of, say, March twenty twenty two. For the last two, two and a half years, and it's been a crazy, crazy hot seller's market. And when buyers see a home that's been sitting on the market over a month, they start to question why has this home bit on the market for over a month? You know, what is going on is their issues. Whilst no one bought this property, and that is a legitimate questions, especially in a market where quality homes that have the right marketing and they have been prepared for the market are selling within two or three days of being on the market. And then people are wondering if it's been on the market for longer. Why is it sitting on the market? So basically, how it affects the price that your home will sell for is your advantage of negotiations. So when your home is still in the market for a while and you don't have a buyers that are just beating down your door and they're sitting in a bunch of offers and instead you have basically a stalemate and then you get one showing, say, on Friday. And this one showing comes in and they send over an offer for fifty thousand on your list price. And the reason they say they did that was because, you know, it's been on the market for a while or or this or that. And then you as a seller, it negotiations wise, you just have one buyer that you're negotiating with and that buyers might will purchase it in unless they're happy and you're not going to accept the offer unless you're happy. So that's truly how it affects the price of your home to sell for. Is your negotiations and your the demand gets lower and lower and lower as it sits on the market get over a hundred plus days on the market. The attention on that property really, really starts to draw up. I mean, think about if you're on Zillow, Realtor.com or some website and you're just scrolling, you're seeing all the new ones, you're seeing all the new property, what was just listed. Then as you get down and you see it's been on the market for over a hundred days, you're asking yourself why. But that's how it affects the price your home will sell for. My name is Nathan Lilly and my information will be below. If you need anything at all, feel free to reach out over seven days a week and have a wonderful day.