Financial Friday - Does the price of your home determine how long it takes to sell? The numbers may surprise you.

 

Does the price of your home determine how long it takes to sell? The numbers may surprise you.

by John Stickle

Most people assume higher-priced homes take much longer to sell, but that may not be as true as you think in the BORSMLS market.

I reviewed 1,668 closed residential sales from the past year and divided them into three price ranges:

·  Under $500,000: 61 median days on market

·  $500,000 to $999,999: 58 median days on market

·  $1 million and above: 64 median days on market

What surprised me was how close those figures were. The difference between the shortest and longest median was only six days. In other words, the typical home sold in roughly two months, regardless of price range.

My takeaway: Price range makes a slight difference, but pricing a property correctly for its condition and competition may make an even bigger difference.

Based on closed BORSMLS residential sales from September 13, 2025, through September 13, 2026. Sold Comp Only transactions excluded.

Financial Friday

 

Some may say property appraisals and Agency Relationships don’t fall into the Financial conversations….think again.

We recently experienced an appraisal issue on the sale of a listing so I am very much in favor of the changes that started earlier this year and will be phased in over the course of the next few months. In this case the property listed had amazing views a resurfaced pool, new fenced in rear yard and total updated renovations over the course of the past 5 years. The appraiser and I had extensive conversations about the condition of the property and every dollar spent on updates outlined for him. The problem was a house a few doors down sold for a LOT less and he refused to make adjustments for the improvements. Adjustments for condition weren’t required, detailed photos of the interior weren’t required and he hit the easy button.  Everyone else involved (including the buyer and their agent) felt the value was there  but the appraisal fell short of contract price.  The end result was an agreement between buyer and seller to split the difference. A reasonable position and one made possible by close communication between realtors and their customers with the best example of Transaction Broker relationship I’ve seen in a while. Open, direct and honest discussion vs. a debate that would have resulted in disappointed buyers and sellers.

So, YES, appraisals, appraisal requirements and Agency Relationships matter to the bottom line.

Financial Friday

 

Some may say property appraisals and Agency Relationships don’t fall into the Financial conversations….think again.

We recently experienced an appraisal issue on the sale of a listing so I am very much in favor of the changes that started earlier this year and will be phased in over the course of the next few months. In this case the property listed had amazing views a resurfaced pool, new fenced in rear yard and total updated renovations over the course of the past 5 years. The appraiser and I had extensive conversations about the condition of the property and every dollar spent on updates outlined for him. The problem was a house a few doors down sold for a LOT less and he refused to make adjustments for the improvements. Adjustments for condition weren’t required, detailed photos of the interior weren’t required and he hit the easy button.  Everyone else involved (including the buyer and their agent) felt the value was there  but the appraisal fell short of contract price.  The end result was an agreement between buyer and seller to split the difference. A reasonable position and one made possible by close communication between realtors and their customers with the best example of Transaction Broker relationship I’ve seen in a while. Open, direct and honest discussion vs. a debate that would have resulted in disappointed buyers and sellers.

So, YES, appraisals, appraisal requirements and Agency Relationships matter to the bottom line.