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.

Time on the Market Drops to New Low in 2017 | Simplifying The Market

Bottom Line

If you are a homeowner,who is debating whether or not to list your home for sale, you should 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!

 

Please know, this article is not intended to be construed as investment advice from any of the information and/or opinions expressed. Chris Hayes Team – Keller Williams Realty NWLA does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Please know, nothing herein should be construed as investment advice. Individuals should always conduct their own research and due diligence and obtain professional advice before making any investment decision. Chris Hayes Team – Keller Williams Realty NWLA will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.