Homes Are Selling!
In today’s strong real estate market, if your home has sitting on the market for more than 1 month, you may want to reconsider the list price. If it hasn’t sold yet, it may not be priced properly.
After all, 15,014 houses sold yesterday,
15,014 will sell today and
15,014 will sell tomorrow!
This is the average number of homes that sell each and every day in this country, according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. According to the report, sales are at an annual rate of 5.48 million. Divide that number by 365 and we can see that, on average, over 15,014 homes sell every day.
Additionally, the NAR report revealed there is currently only a 3.8-month supply of inventory available for sale. A 6 month supply of homes for sale is considered ‘historically normal’, thus we are in a ‘Seller’s Market’ as there are not enough homes available for sale to satisfy the record number buyers looking to purchase a home.
Real Estate Bottom Line
It’s understandable you want to get fair market value for your home. However, if it hasn’t sold in today’s active real estate market, perhaps you should reconsider your current asking price.