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  • When REIWA reports on the ‘average selling days’, what time period does this refer to?

    The average selling days is the average difference between the date of which the properties were first listed for sale on reiwa.com and the sale contract date ie. the signed offer date, within a particular time period and geography. Higher average selling days may indicate a buyer’s market while lower average selling days may indicate a seller’s market.

    Similarly, the average leasing days is the average difference between the date of which the properties were first listed for rent on reiwa.com and the lease contract date, within a particular time period and geography. Higher average leasing days may indicate a tenant’s market while lower average leasing days may indicate a landlord’s market.

    Nevertheless, the average time a property takes to sell or lease depends on how the property is priced and how it is presented from the beginning of the advertising period.

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