Discover the average days on market for different price ranges.
In today’s real estate market, timing can be everything. Whether you’re a buyer or seller, understanding how long it takes for homes to sell based on their price point can provide valuable insights. Today, we’ll break down the average days on market for different price ranges, helping you make informed decisions.
Days on Market Breakdown:
Homes under $1,000,000: Approximately 35 days on the market.
Homes from $1,000,000 to $1,250,000: Around 41 days on average.
Homes from $1,250,000 to $1,500,000: Approximately 54 days on the market.
Homes from $1,500,000 to $2,000,000: About 57 days on average.
Homes from $2,000,000 to $4,000,000: Averaging 95 days on the market.
Homes from $4,000,000 to $6,000,000: Typically taking 171 days.
Homes over $6,000,000: An average of around 326 days on the market.
These numbers serve as valuable guidelines, whether you’re planning to sell or looking to make a competitive offer as a buyer. However, it’s essential to remember that real estate markets can be highly localized and influenced by various factors.
As demonstrated by our recent success, strategy matters significantly in the real estate game. For sellers, seeking advice and employing effective strategies can lead to quicker sales and favorable prices. On the other hand, buyers can leverage their knowledge of days on market when negotiating offers.
Whether you’re in the market to buy or sell, understanding the average days on market for your price range is a crucial part of your strategy. If you’re working with a skilled agent, they’ll help you navigate these dynamics to ensure the best possible outcome. If you have any questions or need guidance, don’t hesitate to reach out to our team—we’ve got you covered.