Wednesday, February 25, 2009

Keeping track of "days on the market"

It's something to pay attention to for obvious reasons. We don't have any pending condo sales in downtown PA right now so let's look at how long everything has been on the market:

325 Channing #106 --28 days
498 Fulton --7 days
800 High #407-- 34 days
800 High #206 --7 days
117 Emerson -- 6 days
457 Homer-- 196 days (this one could stay on till the end of time at this price)
548 Everett-- 21 days 
500  Fulton --26 days
766 University- 111 days
1327 Alma-- 96 days
545 Fulton --40 days
101 Alma #603-- 27 days

Several of these are seeing their "DOM" start to pile up (and the newer listings are NOT going to be selling quickly, trust me). That means one thing: they are priced too high and buyers are not going to be paying these list prices. As we enter into the Spring market we will see the market begin to sort itself out.....

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