Local market circumstances, demand, and timing all affect the time it needs to sell a house. On the other hand, seasonal patterns have been volatile in recent years. Home sales typically drop in September, but the median number of days a home was on the marketplace before its seller approved an offer was the fastest ever recorded. For the 2nd month in a row, almost half of all properties that went on the marketplace in April went pending within a week of being put on the market. In the last quarter, the time taken to sell a house has shrunk even as trends deviate from normal. It took 140 days to sell a home in 2010, which included its time to close the deal.
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How to Work Out Average Days on Market (DOM)
The quantity …