This is why the GMLS’s “average days on market” statistic is useless

636 lake

636 Lake Avenue – at long last love

636 Lake Avenue has sold, for $7.350 million, after just “274 DOM”. In fact, it’s been exposed to the market for 1,989 days, and started off at $18.5 million in 2010. The “ask-to-sell ratio” is just as deceptive, since that number is calculated from the last, rather than the original asking price.

22 Comments

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22 responses to “This is why the GMLS’s “average days on market” statistic is useless

  1. Anonymous

    Bogus – why can’t realtors be honest? It’s a profession that lacks ethics.

    • Well, from the seller’s perspective , a huge DOM number hurts his position. The system may not be transparent, but if you have your own agent, rather than rely on the seller’s you’ll get the information you need to make an informed decision.

      • CT2CA

        I completely agree with Chris….and I am not a realtor. Also…while Zillow is flawed in many ways, this is one place where they are much more accurate: they show the entire history, not just the history of the recent listing.

  2. Greenwich Gal

    Are there any other real estate markets that are as ridiculous as Greenwich? It just seems that people are over value about everything here. I can’t think of anything quite like it.

  3. Anonymous

    Was Ogilvy the first listing agent?

  4. Anony

    What a gorgeous, gorgeous home. Lucky buyer.

  5. Littlemaninabox

    This house is too big.
    Enjoy spending all your free time and money maintaining it, before it is foreclosed or you decide to downsize.

  6. Anonymous

    wrong picture

  7. I still think the description is a little fast and loose regarding Platner’s authorship considering: “Superbly crafted in 1988, this residential icon showcases a signature design by Warren Platner, an internationally acclaimed architect, in collaboration with the architect owner and personal friend”. But, if all the Platner furniture is included (as a previous listing suggested), then, not a total loss.

    • Anon2

      Therein lies the crux of the sale- how much of the furnishings are included. The furniture is a good deal of why the home looks so nice so either the buyer negotiates to buy it furnished or puts her own Pottey Barn pieces in it and ruins the whole mid century modern vibe.

  8. Greenwich Gal

    So is it a Platner or not? Sounds iffy – kinda Platner, kinda this other guy.
    But I do think the house is fabulous.

    • Flash

      Appears wife is architect & artist
      The town hall can look up the plans and the architect
      1988 would be deep in the basement