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Time On The Market Drops To New Low In 2017

January 19, 2018

 

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!  Our local Idaho Falls market has been historically HOT now for the past 2 years, and things haven't slowed down yet!  Give us a call and let's get started!

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