2 Tudor City Pl 15DS listed by Veena Rayapareddi of Compass went into contract within 21 days in Murray Hill, an area of the city that has not fully recovered from the pandemic-induced slowdown. Veena leveraged her marketing and tech background, keen preparation of the home, and timely promotion tactics to secure a qualified buyer in just a week. A signed contract was signed in less than a month. Her skills and background were complemented by Compass technology which allowed her access to real-time data and a one-stop-shop platform for all things marketing.
In comparison to other listings that were sold or went into contract in the last 90 days, Veena’s 21 Days on Market can be considered exceptionally good. Stats for comparison are listed below:
- 148 days for all bedrooms at 2 Tudor City Pl for 4 listings
- 114 days for 134 one-bedrooms in Murray Hill and 95 one-bedroom apartments are still active
- 143 days for 203 one-bedrooms in Midtown East and 170 one-bedroom apartments are still active
The National Association of Realtors defines DOM as the number of days from the date on which the property is listed for sale on the local brokers’ multiple-listing services (MLS) to the date when the seller has signed a contract for the sale of the property.
DOM in real estate is very important for sellers. Homes typically generate the most interest when they are new to the market. When buyers notice DOM rising, sometimes into triple digits or more, they’ll wonder what’s wrong. The question typically has three answers: price, condition, or location.
Since location cannot change, the focus is always on what can be changed – making the home as beautiful and pleasant as possible and pricing accurately are most important. Some things to consider include repairs and renovations, cleaning and staging, and marketing.
Veena helped in evaluating the right price, prepped the home by decluttering and rearranging the home so that the potential buyers could imagine themselves in the space, and used elite photography and Compass marketing.
Partnering with a skilled agent like Veena who understands the market and what it takes to sell a home is more important than ever.
To contact Veena visit: https://www.compass.