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!