Days on Market Record-Breakers

In the last three months, 250 properties have sold in Harrisonburg and Rockingham County.  On average, it took 177 days from the time they hit the market to the time they closed.

There have, however, been some record-breakers....

• The five homes that sold most quickly sold in 18, 19, 25, 28, and 28 days.
• The five homes that sold most slowly sold in 539, 541, 558, 704, and 752 days.  (That's a range of 1.5-2 years.)

As you can see, there is an enormous variation in the time that it takes for a property to sell.  It is interesting, in contrast, to look at the "days on market" for active listings.  This group of 886 properties has an average current days on market of 194 days, with the low being 3 days, and the high being 1,151 days (3.15 years!).

What does this mean for you?

1. We should analyze average days on market for your neighborhood or part of the city/county before putting your house on the market, and while it is on the market.
2. Even with the analysis referenced, we must bear in mind that it is hard (in our current market) to predict how long any given property may take to sell.