Average time for selling properties up 20%

Sometimes, properties are sold 12 weeks after they are announced as being for sales. “However, if the selling price is 10-30 percent below market prices, the building is sold within 30 days. We have had cases in the RE/MAX network when such properties were sold in five days,” according to real estate agency RE/MAX Star's owner and broker Paul Dumbravanu.

According to RE/MAX statistics, a property not sold after five weeks becomes increasingly less interesting for potential buyers, driving the price down. (NewsIn)