Leigh Thomas Brown says ChatGPT claims the median days-on-market is 27 days, but that's wrong. The MLS is the only reliable source for real estate data. In Cabarrus County, homes actually sit for closer to three months, a gap that changes how you price and sell.
Days on market is a very interesting one. Because ChatGPT says it's a median of 27 days. That's not right. And that's one of the reasons that you want to call somebody who's got access to great information through sources like the Multiple Listing Service, which is where REALTORS® share information, and then it gets populated and shared out into the great wide world. If the REALTORS® and the real estate professionals who use the Multiple Listing Service suddenly stop using it, we don't have a repository of data. What are we going to use, Y'all, I mean, that's a fair question to ask your real estate professional. Are you committed to the best data source available for real estate, which is the Multiple Listing Service? I frankly wouldn't hire some real estate pro that was not committed to making sure the data is as robust as possible. But 27 days, that's actually not true. Now maybe that OnTheWeb specific data point was a neighborhood, a little tiny area. But when I looked at all of Cabarrus County, I'm pulling a number that is far closer to 3 months than 27. So that's a difference in how you play your pricing strategy and how you play your landing strategy, y'all, because where you sell has a lot to do with where you buy.
