Nova Scotia Association of Realtors (NSAR) Practice Exam

Market time is the period a property stays on the market from the listing date until it goes under contract or closes. This measure reflects how quickly homes are selling in the current market and signals the level of demand versus supply. Because of that, it influences pricing strategy: if a home has lingered on the market longer than comparable listings, you’re more likely to consider a price adjustment to attract buyers. It also shapes how you market the property—maybe you’ll refresh photos, tweak the description, run different marketing channels, or add incentives to spark renewed interest. Finally, market time affects negotiation posture: longer market time can lead buyers to expect concessions or favorable terms, while very fast-moving markets often support a firmer stance and fewer concessions. In short, the period a property remains listed informs how you set price, how you promote the property, and how you frame and respond to offers.