Quote:
Originally Posted by margaretmattson
if some people sell their homes in 5 days, others sell theirs in 30, and some take 100 days. The average is 45 days
An average does not give a true picture. It makes one believe ALL homes sell within 45 days. In my example, 33% were far under, 33% in range and 33% way over. If you want factual days on market, you have to go on MLS and look at home history. A quarterly report that gives averages is interesting to look at but not reality.
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The average or sometimes called the mean can be very misleading with so many outliers. The current market is influenced by aggressive price cuts. The price cuts do help more houses move in fewer days.
What I have found very interesting about Florida retirement housing markets are the similarities. Take a look at Sun City by Tampa. It showed slowing signs about 2 months ago and now inventory is climbing through the roof. If what has happened in the past holds true, it will be a blood bath soon for sellers here. It will be a 100% buyers market.