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16 Days on Market?  Or 6?

I lasted posted about 5800 Dale Ave. in Edina at the beginning of the month, just after it debuted on the market, and before the first Sunday open house on Nov. 6.

What happened next?

soldThanks to my client’s exhaustive prep, the right price, and aggressive marketing (including a timely Facebook “boost”) by yours truly, the open house attracted a stampede of more than 60(!) people — including, it turns out, the Buyer, who lingered in the home for almost an hour.

They wrote an offer that night, and — after a quick negotiation with the owner — finalized terms with my client by mid-week.

Elapsed days on market:  6.

MLS vs. Realtor Days on Market

Ahh, but on MLS, the “days on market” meter continued to run.

That’s because, by convention, a “For Sale” home is considered to remain on the market until the Buyer’s Inspection Contingency is removed.

In this case, that was another 10 days, making the official days on market “16” (the current MLS status is “Pending”).

The closing is scheduled for December 15; Steph Hays of Edina Realty’s 50th & France office represents the Buyer.

P.S.:  congrats to the Seller, who hustled to get their home on the market, in tip-top condition, in time for the tail-end of the Fall market.

And the Buyer, too, who’ll be moved in well before year-end.

See also, “The Catch With TNAS (“Temporarily Not Available for Showing”).

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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