There Is No Magic Number
Is 30 days too long?
Maybe.
Is 90 days terrible?
Maybe not.
Days on market only makes sense in context.
If comparable homes in your segment are selling in seven days and yours has been available for 45, Lisa wants to know why.
If similar luxury properties routinely require several months to find the right buyer, 45 days may be perfectly normal.
The useful question isn't:
“How many days has my house been listed?” It is: “How is my house performing compared with the market it competes in?”
Why Days on Market Matter to Buyers
Buyers notice market time.
A new listing can create urgency.
An older listing can create curiosity.
Sometimes opportunity.
A buyer may ask:
- Why hasn't anyone bought it?
- Did a previous contract fall apart?
- Is something wrong?
- Is the seller negotiable?
Those questions do not mean the property is bad.
But perception becomes part of the negotiation.
Long Market Time Can Have Perfectly Reasonable Explanations
A property may simply have a small buyer pool.
Examples can include:
- Luxury property
- Highly unusual architecture
- Large acreage
- Unique location
- Specialty use
The right buyer may take longer to appear.
That is different from a common home sitting while nearly identical neighboring properties sell.
How Should a Seller Respond?
Lisa looks for patterns.
Comparable homes are also sitting
The broader market may simply be slower.
Comparable homes are selling and yours is not
Now investigate the difference.
Plenty of showings, no offers
Something is failing after buyers experience the home.
Almost no showings
The problem may occur before buyers ever enter.
Price and online presentation deserve particular attention.
Days on Market Also Cost Money
Every additional month can mean another:
- Mortgage payment
- HOA payment
- Utility bill
- Insurance period
- Landscaping bill
- Pool service bill
This is why sellers should consider net outcome, not merely eventual sales price.
Waiting six months to get $5,000 more can be a financial loss if carrying costs exceed the difference. When to reduce the price walks through the carrying-cost math in dollars.
Don't Panic Because a Website Says “23 Days”
Market data should guide strategy, not frighten you.
Lisa's job is to interpret what those days mean for your particular property.
This guide is part of the Las Vegas Home Seller Resource Center, where pricing, preparation, marketing, offers and escrow each have their own guide.
About Lisa C Hamilton
Lisa C Hamilton has helped people buy and sell real estate in Las Vegas for more than 20 years. Her business has been built largely through referrals, and she is known for proactive preparation, strong negotiation and keeping clients informed throughout the transaction.
Lisa serves buyers and sellers throughout Las Vegas, Henderson and North Las Vegas with THE Brokerage, A Real Estate Firm®. Nevada Real Estate License: S.168195. Your Friend in the Industry.
Learn more about Lisa, contact Lisa, search Las Vegas homes, or sell with Lisa.
