2 minute read
AGENT ADVISORY BOARD
2021 | DAYS ON MARKET
Market with average DOM ≤180 Market with average DOM >180 All markets
The average Days On Market for the 56 markets evaluated in 2021 was 349 days, a 29.4% decrease from the 491 days in 2020.
Just over half of the top sales evaluated in 2021 were on the market more than 180 days. The average for the 49% properties listed for 180 days or less was only 83 days, on par with the last four consecutive years. By comparison, for the 51% listed more than 180 days, average Days On Market jumped nearly 650%, to an average of 614 days total.
HOT VS COLD The lowest average Days On Market were in New Hampshire and Duval and St. Johns Counties, FL at 104 days and 133 days, respectively. By contrast, the highest were in Dallas, TX and Vero Beach, FL at 880 and 779 days.
TOP TEN HIGHEST
1 Dallas, TX 2 Vero Beach, FL 3 Park City, UT 4 Westchester County, NY 5 Miami, FL 6 Orange County, CA 7 Beverly Hills, CA 8 Fairfield County, CT 9 Nantucket, MA 10 Holmby Hills/Bel Air, CA TOP TEN LOWEST
1 New Hampshire 2 Duval + St. Johns, FL 3 Palo Alto, CA 4 Brentwood, CA 5 Santa Barbara, CA 6 Pacific Palisades, CA 7 Lake Tahoe, CA 8 Philadelphia, PA 9 Morristown/Essex, NJ 10 Chicago, IL
2021 | % OF LIST PRICE
Market with average DOM ≤180 Market with average DOM >180 All markets
The average percent of Original List Price achieved for the 56 luxury U.S. markets evaluated in 2021 was 88.8%.
Of these, the properties that sold within 180 days achieved 94.06% of their Original List Price. By contrast, those that took longer than 180 days to sell achieved just 80.6%. This over 13% difference can be substantial when dealing with multi-million dollar properties and does not include carry costs, property taxes, or other expenditures of both time and money.
HOT VS COLD The lowest average percent of Original List Price achieved for top sales in 2020 were in the Hamptons, NY, at 62.95%, followed by Beverly Hills, CA, at 69.06%. Conversely, properties in Nantucket, MA achieved over asking price and the highest percent of Original List Price, at 116.61%, followed by Vermont at 97.51%.
TOP TEN HIGHEST
1 New Hampshire 2 Aspen, CO 3 Lake Tahoe, CA/NV 4 Sonoma County, CA 5 Hamptons, NY 6 Denver, CO 7 Sun Valley, ID 8 Palo Alto, CA 9 Vail, CO 10 Telluride, CO TOP TEN LOWEST
1 Beverly Hills, CA 2 Dallas, TX 3 Malibu, CA 4 Broward County, FL 5 Fairfield County, CT 6 San Diego County, CA 7 Westchester County, NY 8 San Francisco County, CA 9 Tampa, FL 10 Atlanta, GA
