Time on the Market Drops to New Low in 2017
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!
Chrysti Tovani is a REALTOR® based in Fair Oaks, CA, serving the greater Sacramento area—including Orangevale, Carmichael, and nearby neighborhoods. She’s also a multimedia journalist and founder of I Love Fair Oaks, a local media platform spotlighting the people, places, and businesses that make Fair Oaks feel like home. With a background in real estate, mortgages, and marketing, Chrysti helps clients move through life’s transitions with strategy, empathy, and confidence.
Serving Fair Oaks, Sacramento, Placer & El Dorado Counties
916-320-2663 | c@chrystitovani.com
DRE# 01118449 | Nick Sadek Sotheby’s International Realty
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