Sell it Fast or Sell it Cheaper

Sell it fast or sell it cheaper. Most real estate professionals understand the direct link between "Days on Market" and selling price. Homes that linger on the market for months normally drop their price to attract buyers or else accept a much reduced selling price. This is true in all regions of the country and all price brackets. Homes that have been on the market for more than 90 days rarely sell for full price.

I'm working with some out-of-state buyers who are new to Marin County and the North Bay and wanted to help them calibrate their pricing mindset. I produced this chart of all the single family homes in San Anselmo that have sold this year. The height of the bars indicates how close the sales price is to the original listing price. Most of the bars on the left side of the chart are near the 100% mark. Each bar represents one or more sales. As you read towards the middle (checking the bottom of the chart for the Days on Market) you start to see that many fewer homes are near the 100% mark. After Day 90, the highest value for selling price is only 90% of the original listing price. As you move to the far right of the chart near the six month DOM range, many homes are selling for less than 80% of their original listing price.

Armed with this type of information, my buyers are able to make informed offers that are backed by real market data.

REO Sales in Marin