Market update: reading days on market the right way

Days on market tells you how long buyers have passed on a home at its current price. A listing that has sat well beyond the local norm usually signals a pricing problem, a condition problem or a location factor - and often room to negotiate.

But the number resets. When a listing is cancelled and relisted, sometimes at a different price, the counter starts again. A home showing four days on market may have been available for four months.

Check listing history where available, look for price reductions, and compare against similar homes nearby. If everything comparable sells in two weeks and one home has been listed for two months, that difference is information worth acting on.