T hese graphs show the average days on market, which means the number of days from the date a property is listed, until the property goes Pending. It’s good to note there are usually anywhere from a couple weeks to a couple months between the date a property goes Pending to the date the sale actually closes. The graphs also show the average difference between the listing price and the selling price of a property as a percentage of list price. So if the average is 90%, if a home is listed at $100,000 it will on average sell at $90,000.
The difference between the two graphs is the definition of List Price. In the first graph, the List Price is the last list price in the life of the listing, in other words after any price reductions over the life of the listing, and the Days on Market are from the last listing period. In the second graph, it is the original list price when the property first goes on the market, regardless of who the listing agent was as long as there was no period of 90 days or more when the property was off the market. Same is true of Days on Market, in the second graph it is the cumulative days on market, regardless of listing agent as long as the property wasn’t taken off the market for a period of 90 days or more.
