According to recently released data from the National Association of Realtors (NAR), the median amount of time a home spent on the market hit an all-time low of only three weeks in 2017.
Strong buyer demand, a good economy, and a low inventory of new and existing homes for sale created the perfect storm to accelerate the time between listing and signing a contract. The time needed to sell a home has dropped substantially since its highest mark of 11 weeks in 2012.
The chart below shows the median weeks on the market from 1987 to today.
Bottom Line
If you are a homeowner who is debating whether or not to list your home for sale, know that national market conditions are primed for a quick turnaround! Let’s get together to discuss exactly what’s going on in our area, today!
Source: Housing Market & Real Estate News
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Lenora is a full-service San Diego real estate agent, serving residents county-wide, and those looking to live in San Diego. She specializing in Metro and Coastal San Diego, with a Masters Degree in Marketing and over 10 years in the real estate industry, Lenora offers top tier, professional service that gets results.