Yesterday, I wrote an article on our blog at http://dcrealestatemarketplace.com/avenel-homes-for-sale-market-update discussing the state of the Avenel MD homes for sale market, as how it relates to the greater Potomac MD real estate market.
As always, I ended up with too many graphs to shove into one single blog post, so I have come here to share the extra chart. This one is about the DOM, or Days On Market, of homes in Potomac MD, of which Avenel is one sub-group.
Even though median asking prices are dropping, over $200,000 in the past two years and inventory levels are pretty high, it appears that homes are staying on the market about the same amount of time today as they were in September of 2009. Which I find surprising. I certainly would have expected homes to be on the market longer than before.
What this tells me is that the good homes, the homes people are willing to buy, are probably on the market for only a short amount of time. And the other homes, well, they are staying on for a long time before the sellers get tired and then simply take their home off the market without a contract.
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