You find a home that looks promising. Then you check its days on market: 105. Why hasn’t someone bought it?
Why hasn’t someone bought it? Is something wrong? Would the seller consider a lower offer?
Those are reasonable questions. The number alone cannot answer them.
My position is simple: days on market should make you ask why. It should begin an investigation. It should not become a conclusion about whether a home is desirable or worth pursuing.
Days on market can mean different things to different buyers
Buyers interpret market time through their own goals.
An investor or someone comfortable making repairs may see an opportunity as the days accumulate. A buyer looking for a primary residence may begin wondering, “What’s wrong with this house?”
Neither reaction tells us what is actually happening.
The seller may be asking more than the market supports. The home may need work that buyers are unwilling to take on at that price. Or comparable homes may also be taking longer to sell.
Some sellers have a price at which they would move, but little reason to accept less. Another month on the market may not change their position.
We need context before deciding what the number means for you.
Is there a seller willing to make an agreement?
I evaluate comparable sales to understand the home’s likely market value. But identifying a reasonable price does not establish that the seller would consider it.
Seller motivation is my first test of whether there may be a workable agreement.
I often begin that investigation with the listing agent. They have been experiencing those accumulating days, too. They know the conversations they have had with the seller and how the seller has responded to the market.
In my experience, listing agents will often discuss the seller’s motivation when there is a credible possibility that my buyer could make an offer.
Their response matters. If the agent is unsure or hesitates about how the seller would respond to a reasonable offer, that tells me something about the uncertainty ahead.
It does not establish what the seller will accept. It helps me explain to my buyer whether there appears to be a path worth exploring.
What does the condition mean for this buyer?
Condition is the next area of investigation. A conversation with the listing agent can help identify issues that deserve closer attention.
The important question is how those issues affect the person considering the home.
One buyer may be comfortable arranging repairs. Another may lack the money, time, or willingness to do so. Sometimes a home’s condition may not meet the requirements of the financing for which the buyer has been approved. That can prevent the purchase from moving forward through that financing.
My job is to bring that information to the buyer and explain its implications. I do not rule a home in or out for them.
They need to understand whether it is worth pursuing—and whether they are capable of pursuing it.
Cindy’s experience: a home worth revisiting
Cindy found a gorgeous home that fit her exceptionally well. It had already been on the market for approximately six months.
My comparative-sales analysis suggested that the asking price was about $80,000 above a supportable value. That was my market assessment, not an appraisal.
We made an offer. The seller’s counter remained well outside the range the evidence supported.
Cindy continued considering other homes, but none displaced the fit she felt with this one.
Approximately two and a half months passed. During that time, the asking price dropped by $35,000. With more information about the property and the sellers’ motivation, I contacted the listing agent again.
Together, we met with the sellers on a Thursday and presented a proposed solution. They waited until Monday to decide.
Over that weekend, they visited their dream location and found a property that worked for them.
Two things had come together. Through the negotiation, they recognized that continuing to wait was unlikely to produce a better offer. They also now had a concrete opportunity for their own move.
Cindy purchased the home for $80,000 below its original asking price. The completed appraisal supported her purchase price.
Her willingness to keep considering alternatives while remaining open to this home gave her choices as the circumstances changed.
Cindy is a fictional name used to protect the buyer’s privacy.
A discount does not establish value
Cindy’s result does not mean every long-listed home presents a similar opportunity.
A substantial reduction from an inflated asking price may simply bring a property into a reasonable range. Another home may already be priced appropriately despite its extended market time.
For sellers, there is a lesson here, too. Accumulating days can encourage buyers to build a story about a home before they understand it. Starting price, condition, and responses to market feedback help shape that story.
For buyers, the next step is to investigate: Why is the home still available? Is the seller open to a market-supported agreement? What does the condition mean for your plans and financing?
Days on market gives you a reason to ask. The answers help you decide.
