In real estate (and especially in property management), we measure "days on market."
Or... DOM, market time, time on market, etc...
Whatever you call it, days on market measures the effective 'age' of a real estate or rental listing. For the most part, properties with a very high DOM tend to command lower prices compared to properties with a lower DOM value.
This statistic can be very useful when gauging the temperature of a local housing market.
Excalibur manages homes in Barrow, Cherokee, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Hall, Henry, and Walton County; an area that covers all of Metro Atlanta.
While pulling data from these counties, we focused on homes that rented between $800-$2000, had 3+ bedrooms, and 2+ bathrooms.
So, the question remains: How long does it take to rent a house?
Well, for Excalibur (in 2013), it took an average of 43 days.
For the rest of the agents using FMLS, it took an average of 46 days.
Find out why landlords choose Excalibur Home Management for all of their leasing and management needs.