Time on market metric

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  #1  
Old 02-22-2021, 09:29 AM
Yorkie Yorkie is offline
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Default Time on market metric

Does anyone know the current time on market for homes selling in the villages?
I know it is not a perfect metric but it can indicate trends.
Several open houses each day are cancelled because sale is already pending. And some are not pending on Daily Sun ad, but when you go to view property, sign in yard says open house cancelled due to sale pending.
  #2  
Old 02-22-2021, 02:22 PM
vintageogauge vintageogauge is offline
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The average number of days on the market for The Villages Real Estate re-sale homes for the month of December was either 42 or 44 days, one or the other just can't remember exactly which. That seems to be an extended amount of time but they did sell in excess of 200 re-sale homes in December. I don't know what the time was in January as I was out of town when they posted it in the Daily Sun. That being said, a lot of homes sell in just a few days, at least in the newer sections that I am more familiar with. Someone else might have the numbers for you from MLS listings.
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Old 02-22-2021, 05:37 PM
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As vintageogage stated, check the Daily Sun.

It was shown today, Feb. 22, 2021 -- Classifieds, bottom of page E3: For the month of January, 201 Pre-Owned Homes Sold; 53 Average Days on Market.
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Old 02-23-2021, 05:56 AM
Laker14 Laker14 is offline
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Is that a measure of the time from listing to pending, or from listing to closing?
We just purchased, having closed a couple of weeks ago and my experience was that nice homes, well priced move quickly. However, several homes we looked at that were nicely located but needed considerable updating have been on the market for months. One of those homes we put what we thought was a very fair offer on, but we never got within 20K of what I would have paid. This was in December, and the house had already been on the market for 60 days. It is still on the market.
Another home we looked at, that was very nicely appointed, really needed nothing done to it, had come off of "pending" as financing had fallen through. We looked at it immediately, put an offer in immediately, and someone else had already beaten us to the punch, offering full price, cash ready.
I am still occasionally perusing the listings, and the homes that have been on the market longest, that we looked at, needed the most work, and all of them are still on the market. My take on that is that buyers are reluctant to take on a lot of updating unless they are getting a good deal, and sellers are reluctant to acknowledge that their outdated homes aren't as valuable as they have come to believe.
I think the "average time on market" may be interesting as a concept, but when it comes down to getting the house you want to live in, it's of very limited value.
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Old 02-23-2021, 06:45 AM
Papa_lecki Papa_lecki is online now
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The realtor i worked with for The Villages Realty explicitly told me they don’t share days on market - they dont think its a valid piece of information. My experience with TV listings is they overprices them by about 10-15% - when you look at their new construction, it looks like a better value. JUST MY EXPERIENCE
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Old 02-23-2021, 07:41 AM
Yorkie Yorkie is offline
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Thanks everyone. Never realized data was in my Daily Sun.
Numbers quoted are higher than I would have thought. Post referencing home conditions is very good. Makes a lot of sense that it could skew the average.

Have a blessed day.
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