Is there a place I could go to that would show city data of the days properties are on market in a 2, 3 or 5 year period?
Example
Year 1- DOM-70 days
Year 2- DOM 120 days
Year 3 - DOM 150 days
Since know one is replying I’m guessing I asked a stupid question.
Usually the Realtor level of access for the MLS will have DOM listed. Where I am, the listings I view don’t list DOM unless it’s a commercial listing. My Realtor can print out residential listings showing the DOM. I’m not familiar enough beyond that to tell you if they could do search and show what you’re looking for or not. Most of the time, they will be familiar with trends as far as how long homes are on the market at certain price points.
I use zillow as well just for a basic understanding of the market. Notice I said BASIC… Its not 100% accurate. Yet its a great tool. I would want to know why your wanting the DOM going back 5 years?? All that really matters in my opinion is how long will the property take to sell in todays market?? You can do all the research you want and create piles of paperwork to review. If you are trying to predict what the area is going to do off of previous sales I would have to ask you, what came first the Chicken or the Egg?? Nobody really knows?? Trying to predict how an area will work for long term investment is not an easy task. Look for area’s that show an increase even in the down markets. Then your going to have to try and find deals in that target area. From that information you are going to be limited on the transactions you can do. To me this is like playing real life Monopoly you are going to have to take uneducated risks at time. Don’t be afraid to buy a Baltic Ave. Property it may not look good when you first purchase it yet after you add that Red Hotel the Rent goes through the roof and you will make a profit. This is a game of Cash flow and flipping. Even Mythbuster’s proved that you can Polish a turd a few years ago. http://www.youtube.com/watch?v=yiJ9fy1qSFI So with that said remember the basics BUY LOW SELL HIGH…