Days On Market (DOM) is the number of days from when the property is initially listed to once a contract has been signed. Days On Market is one of the most popular statistics to track in the real estate industry. The Olear Team / MJ Peterson average 23 DOM. The broad market average for Western New York is 64 days.
Another statistic that essentially goes hand-in-hand with DOM is Sales Price to List Price ratio. This is a percentage of the asking price the seller receives. For example, if you listed your home at $100,000 and sold it for $90,000, your Sales Price to Listing Price ratio would be 90%. The Olear Team / MJ Peterson has a 98.47% sales price to listing price while the industry average is 93.5%
In your search for a Real Estate agent be sure to consider these two factors together. After all, a short Days On Market means nothing if you are only receiving 75% of your initial asking price.
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