This week's average days on market for closed sales was heavily skewed by a sale that sat on the market for 217 days. Take 2423 Washington Avenue out of the equation - a 4BD/3BA 2,000+ S/F home in Woodside Plaza that finally sold last week for $1.5 million - and our average days on the market drops to around 18 days. Although this home sounds like an easy sell on paper - over 2,000 S/F on a nearly 7,000 S/F lot, with fairly modern finishes in one of Redwood City's hotter neighborhoods - sometimes even the slightest quirks in a floorplan can really drag your listing down. This home had a slightly awkward 2nd story addition with small upstairs bedrooms, in a neighborhood where the hot commodity at the $1.5 - $1.7 mil price range is a renovated single-level home with an open floorplan.
This is purely speculation as to why a seemingly desirable home in a hot market would sit for so long, and I'm sure there are other factors. But it goes to show - even in the hottest markets, nothing is guaranteed. That's why we are consistent with our marketing efforts, regardless of how hot the market is. You don't want to get caught flat footed when you find there aren't as many people flocking to your home as you expected.
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