"Days on Market" is sometimes not the accurate statistic you might think it is

New to Market!

32 Vineyard Lane’s listing expired on 9/17/19 when it was priced at $8.950 million, and left the market with an accumulated days on market number of 839. Today it’s back, exactly six days and one month later, wit a new price: $8.6 million, and a new days on market count of one. That’s because, under GAR rules, days on market can only be restarted after a six-month absence from the market, a rule that was first imposed some years ago after I embarrassed the GAR by pointing out the gaming going on with this statistic: agents would pull a listing on one day relist it the next and restart the clock.

There’s nothing particularly underhanded about this maneuver, and a buyer’s agent can supply the true age of a listing, but buyers should be aware of the possibility that “days on market” can be a flexible number, subject to a bit of massaging now and then.

The house is gorgeous, by the way, and was beautifully restored and renovated by the previous owners, who sold it to these sellers for $13.750 in 2006. That was pre-Corona pricing, of course.