What does the "Number of Days on Market" tell you?

[Jim Piety]

What do people generally think of a property when they see that it has been on the market for 100 days? 200 days? Or more?

I think about this in two ways. First, I think this seller is probably desperate at this point and I can get a bargain deal. But then I think that if nobody has already purchased this deal, there must be something wrong with it.

I'm finding these properties on the MLS if that makes a difference.

Thanks for your help!

[Account Closed]

Every bit of info helps in your negotiation.  A couple of points- It helps to know the average DOM for that type of property for that area so you can put any particular property's DOM in perspective.  Also, every property's "desperation" factor is different based on the owner's situation.  I've tried to low ball properties that have been on the market for 3 years, only to find that the owner is still rejecting anything below full price offers. Probably cash flowing nicely, and no hurry to sell unless he gets his price.