Winchester, VA Homes - Days on the Market Makes a Difference. Does it?
By Mike Cooper, Broker VA,WV, Your Neighborhood Real Estate Sales Pro
(Cornerstone Business Group Inc)
It has always been my assumption that the longer a house sits on the market, the more likely the seller will receive less money in the final sale. There is some validity to that theory, but there can also be less validity than you may think. The Winchester, VA March Real Estate Update challenges that theory.In my research, I looked at March sales. Closings were set at 14 days except for the 90-99 day interval. I stopped at 99 DOMP and went to 100+ days on the market. There were 125 houses that closed in March. Of that number, 15 were foreclosures and 1 was a short sale. That has been typical in the local market for the past six months with the exception of an 8 year low in January.The percentages broke down like this: Days Sales Percentage of List to Sale0-14 ...