Over the last 10 years, the average time it took to sell a home in Carmel was 110 days.  Can you guess the average time it took to sell a home in Carmel in 2008?

a)  102 Days

b)  115 Days

c)  137 Days

d)  148 Days

The answer is (d), 148 days.  Yes, it is really no surprise that it is taking a bit longer to sell homes in today’s market.  There are some interesting trends behind these numbers though.  A full 23% of the sales in 2008 took less than 30 days to sell.  Another 30% took more than 200 days to sell!  Although the average was 148, the median was only 116.  This tells me that if a home is priced right, it will sell in a short period of time, but overpriced properties that miss the market and continually have to catch up with price reductions have a good chance of staying on the market well beyond the mean.  Bottom line:  If you want to sell your home for the most money possible, price it correctly from the start!