Each year, Concierge Auctions – the dominant marketplace for buying and selling the world’s finest properties responsible for more than $1 billion in sales – creates the annual “U.S. Luxury Homes Index.” The analysis looks at the 10 highest property sales in 56 high-end markets around the U.S., and according to the research, shows that in every economic condition, days on market are an important consideration for luxury home sellers.
Every Day A Home Sits On Market It Depreciates In Value
“For three years, our research has indicated that the largest factor in determining the price a luxury property will sell for is the number of days that it has been marketed for sale. Every day that a home sits on the market, it depreciates in value,” said Laura Brady, president and founder of Concierge Auctions.“We continue to see that properties either sell quickly for close to their original list price, or they remain on the market for a long period of time and sell for a fraction of this price.”