Keeping Current Matters February 7, 2024
Seller
Have you been thinking about selling your house? If so, here’s some good news. While the housing market isn't as frenzied as it was during the ‘unicorn’ years when houses were selling quicker than ever, they’re still selling faster than normal.
The graph below uses data from Realtor.com to tell the story of median days on the market for every January from 2017 all the way through the latest numbers available. For Realtor.com, days on the market means from the time a house is listed for sale until its closing date or the date it’s taken off the market. This metric can help give you an idea of just how quickly homes are selling compared to more normal years:
When you look at the most recent data (shown in green), it's clear homes are selling faster than they usually would (shown in blue). In fact, the only years when houses sold even faster than they are right now were the abnormal ‘unicorn’ years (shown in pink). According to Realtor.com:
“Homes spent 69 days on the market, which is three days shorter than last year and more than two weeks shorter than before the COVID-19 pandemic.”
Homes are selling faster than the norm for this time of year – and your house may sell quickly too. That’s because more people are looking to buy now that mortgage rates have come down, but there still aren’t enough homes to go around. Mike Simonsen, Founder of Altos Research, says:
“. . . 2024 is starting stronger than last year. And demand is increasing each week.”
If you’re wondering if it’s a good time to sell your home, the most recent data suggests it is. The housing market appears to be stronger than it usually is at this time of year. To get the latest updates on what’s happening in our local market, let’s connect.
Stay up to date on the latest real estate trends.
January 14, 2025
We’re officially in the winter stretch, and in many parts of the country, temperatures have plunged—leaving many homeowners struggling with how to beat the chill.
January 14, 2025
A cup of coffee is the quintessential staple of a morning routine—at least in the U.S.
January 14, 2025
Have you ever stopped to think about how much wealth you’ve built up just from being a homeowner?
January 13, 2025
As harrowing and out-of-touch as show business can be, celebrities’ most-relatable sides are exposed in the bonds they share with their pets.
January 13, 2025
Ferguson Partners, the Chicago-based talent management and strategic advisory firm for the real estate sector, announced the results of its first Artificial Intelligen… Read more
January 13, 2025
The best all-inclusive resorts in Cancun inspire travelers to return to this lively beach destination year after year, and it’s not hard to see why.
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today