Days On The Market Drops To New Low In April

Dated: 06/11/2018

Views: 38


Days on The Market Drops to New Low in April | MyKCM

According to recently released data from the National Association of Realtors (NAR), the median number of days that a home spent on the market hit a new low of 26 days in April, as 57% of homes were on the market for under a month.

NAR’s Chief Economist, Lawrence Yun, had this to say,

“What is available for sale is going under contract at a rapid pace. Since NAR began tracking this data in May 2011, the median days a listing was on the market was at an all-time low in April, and the share of homes sold in less than a month was at an all-time high.”

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 chart below shows the median days on the market from April 2017 to April 2018:

Days on The Market Drops to New Low in April | MyKCM

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!

Blog author image

Brian Woodhead -Skyline Team Leader

Realtor Designation You deserve a Realtor with the Knowledge from these designations. Realtor’s that take the time to earn these designations are the industry leaders and top producers. We care a....

Latest Blog Posts

FirstTime Home Buyers Continue To Put Down Less Than 6

According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017.Many

Read More

Homes More Affordable Today Than 1985 2000

Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home.However, it is not just the price of

Read More

Why Should You Use A Professional To Sell Your Home

When homeowners decide to sell their houses, they obviously want to get the best possible price for their home with the least amount of hassles along the way. However, for the vast

Read More

5 Reasons Millennials Choose To Buy A Home

Some Highlights: “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space,

Read More