Days on market for the typical Baltimore-area home for sale: 98
The typical home for sale in the Baltimore region in July had been sitting on the market for 98 days -- a little over three months.
So says Realtor.com, which released a market-trends report with statistics on homes for sale. Many of the stats we see are for places that have already sold, so it's a change of pace to get a snapshot of the so-called market inventory.
The region's median time-on-market is almost exactly the same as the nation's, which is one day shorter at 97. Several metro areas are at or above 150 days -- five months. Two -- Oakland, Calif. and Denver -- are under 50. (Denver's typical home has been on the market about a month.)
Aggregated days-on-market figures hide a lot of variations, of course. Homes are always coming on, brand-spanking new, their time on market measured in minutes. Others have been languishing for months. Occasionally years.
And the figures don't necessarily reflect how long the wait has been for sellers, since some pull their homes off the market and put them back on later so they can be brand-spanking new all over again from a multiple-listing standpoint.
Average asking price for listings in the Baltimore region, in case you're wondering: $335,000, down 5 percent from a year earlier, according to Realtor.com. The median asking price is substantially lower, $245,000.
On a related note, Realtor.com says the Baltimore area was the 18th most popular for online real estate searches in July. Chicago was No. 1, followed by Las Vegas and -- wait for it -- Detroit. (The typical asking price in Detroit is $95,000.)
But back to days on market: For comparison's sake, I looked up the statistics for home sales in July, which come from Metropolitan Regional Information Systems' stats arm. The average home sold that month changed hands in 114 days.
Thirty percent of the sales went in 30 days or less. Twenty percent sold in six months or more.
If your home is on the market, how long has it been so far?