In my previous post, "Best calendar months to list, accept or make an offer on a home", I produced charts of averaged percent of sold home prices relative to original listing price, by listing / contract / sold months (within $25k price ranges).
What I didn't disclose were the average count of days, from listing to Buy/Sell Agreement (contract), for each of those listing months (by original list price strata).
So I've run these numbers for Single Family Residences (SFR's) in Flathead County, sold over the past 2 years. I've limited the scope to original list prices between $150,000 and $475,000 (in $25k pricing blocks).
Here are the average days from listing to contract (DTC), based upon which calendar months the properties were originally listed (within original list price strata):
You may have been expecting a different result -- probably assuming that properties listed in cold months would take longer to sell. Real estate activity is assumed to peak in warm months, for many reasons. One pictorial takeaway is the fact that DTC is at least 50% likely to be 90+ days, when original list price is $325k+.
I would also be interested in how many of these homes were newly-listed (put on the market) in which calendar month:
There is oft more market competition during the warm months -- less inventory and market competition during the cold months. Some readers may be unaware of the 'withdrawn' status within the MLS, whereby sellers/agents effectively take a property off of the market (usually during the cold months) without 'cancelling' or 'expiring' the listing agreement altogether. Frequently sellers desire to NOT have the Days-on-Market (DOM) counter incessantly ticking upward during lesser-active cold months, lending a property to look problematic (as evidenced by higher DOM) when the market energizes in the active warm months.
Many listing agreements are also either 'cancelled' or 'expired', usually at the end of the calendar year or in cold months -- 'cancelling' being the indication that the seller outright cancelled the listing altogether.
Quite frankly, properties here oft have diminished accessibility or quality of presentation, during cold months. As a result, buyers / investors can oft expect fewer active listings and market comps during the cold months.
Realtors® are prohibited from trolling sellers whose listings are in the 'withdrawn' status. Also, Realtors® may be unaware of the off-market properties, previously listed but presently cancelled or expired, when the cancellation or expiration occurred months or years ago.
When considering buying or selling real estate, ask your prospective Realtor® to prove their comprehensive awareness to market dynamics.
I think that the underlying data research, analyses and the above resulting depictions will provide valuable insights and wisdom to property buyers and sellers alike.
Please contact me for more information about licensing my charts for your use, or to discuss my custom data research, analysis and map / graphics design services personalized to your specific needs.