Understanding Days on Market

The average Days on Market (DOM) for homes in Astoria was notably high, with an average of 150,000 days. The median DOM was even more striking at 525,428 days. Among the homes sold, 23 were on the market for longer than the average DOM. This data might seem perplexing and likely indicates a typographical error in the provided statistics. Typically, days on market are calculated in days, not in large numbers that exceed human lifespans. Correct and realistic figures for DOM in Astoria would likely range from a few days to several months, depending on market conditions and property characteristics.

Price Range and Selling Prices

The price range per square foot for homes sold in Astoria was reported between $477,450 and $1,475,000, which suggests a misunderstanding or misprint, as these figures are more indicative of total home prices rather than price per square foot. For a clearer perspective, price per square foot in residential real estate typically ranges much lower and is a critical metric for comparing property values. The average and median selling prices were noted as $110.13 and $1,098.90, respectively, which also appears to be inaccurate or misplaced data, possibly referring to price per square foot rather than total selling prices.

Insights for Sellers

Given the discrepancies in the provided data, it’s essential for sellers in Astoria to consult up-to-date and accurate market reports. Understanding the real dynamics of days on market and accurate pricing per square foot will be crucial for pricing your home competitively. Engaging with a knowledgeable local real estate agent can provide you with precise market analysis and help tailor your selling strategy to meet current market demands.

Correct market data will enable you to set realistic expectations and achieve the best possible outcome in selling your home. Remember, every property is unique, and its value can significantly differ based on various factors, including location, condition, and market trends.