When you’re preparing to sell your house, one of the first questions that comes to mind is, “How long will it take?” Naturally, you’d want to know what to expect in terms of the process. While the market differs from region to region, understanding the national landscape can give you a
general benchmark. Of course, it’s important to consult a local expert for specific insights in your area.
Homes are still selling faster than they did pre-pandemic.
According to Realtor.com, the number of homes listed for sale has increased this year. This is great news for buyers, as they now have more options to choose from. However, for sellers, this means that homes are staying on the market longer, as there is more competition.
One of the reasons homes sold so quickly in recent years was because there were fewer listings. But now, with more homes on the market, it’s understandable that the sales process is taking a bit longer. Currently, Realtor.com reports that the average time it takes to sell a home, from listing to closing, is 55 days.
But remember this: While homes aren’t selling as quickly as they did last year, they are still selling faster than they did in pre-pandemic times. If you look back at 2017-2019, it was typical for homes to take over 60 days to sell. So, the current pace is still faster than it was back then. This is because, despite the increase in listings, demand continues to exceed supply.
And keep in mind that this 55-day figure is a national median. The actual time it takes to sell a house in your local market may vary significantly.
We’ll be back with more helpful insights next time!
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