How Fast Will Your Home Stay on the Market

Remax has reported that on average, a home is currently selling three times faster than it did three years ago.

Remax National Housing Report, in the month of June looked at 53 metropolitan cities and saw that a home’s average number of days on the market was four days shorter in May of 2016 and June 2016. For the record, the new average amount of time a home spends on the market is 54 days. June was the 39th straight month with a days-on-market average of 80 days or less.

Cities with the least amount of inventory are Denver, Seattle, and San Francisco, and they averaged all in the low 20’s days on the market. Augusta, Maine, and Des Moines, Iowa had the most time on the market. Des Moines was rough 103 days, while Augusta was 143!

Markets across the country are still slowly rebounding from the great collapse in 2008. Sales are on the incline every year. Home prices are being moderated so they are affordable again, and no one is really being priced out of the market. There are a few inventory problems, but overall the entirety of the market is recovering quite well.

Summer of 2016 is one of the most anticipated seasons as home sales and prices are rising. Market demand moved June sales to 9.4 percent over sales in May, and the country’s median sale price in June was $299,900. This time last year, prices were 2.2 percent lower than they are now!

Inventory shrank a little as June home sales fell 15.6 percent.

The amount of time it will take for your home to sell is mostly dependent on your market. Having a good realtor helps as well. If your home is in good shape, you have a hard working, well connected realtor, and are asking a reasonable amount for your home you shouldn’t be on the market long at all. 

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