Hey there, have you been considering putting your house on the market? Well, here's some positive news for you. Even though the housing market isn't as crazy as it was during the 'unicorn' years when houses were selling faster than lightning, they're still selling quicker than usual.

So, this graph here shows you how long it takes for houses to sell from January 2017 up to the most recent data we have. The information comes from Realtor.com, and it gives you an idea of how many days, on average, it takes for a house to be listed for sale until it's sold or taken off the market. It's a good way to see how quickly homes are selling in comparison to previous years.

It looks like homes are selling faster than usual, according to the latest data. In fact, the only times they sold even quicker were during those rare 'unicorn' years. This information comes from Realtor.com.

““Homes spent 69 days on the market, which is three days shorter than last year and more than two weeks shorter than before the COVID-19 pandemic.”
”

— Realtor.com

What Does This Mean for You?

It seems like homes are really moving fast compared to usual for this time of year, and there's a good chance your house could sell quickly as well. This surge in activity is because more people are jumping into the market following the recent decrease in mortgage rates. However, the demand is surpassing the supply of available homes. According to Mike Simonsen, the founder of Altos Research, this imbalance is leading to the rapid sales. Let me know if you have any questions or if you'd like to discuss how this could impact your home sale.

““. . . 2024 is starting stronger than last year. And demand is increasing each week.”
”

— Mike Simonsen, Founder of Altos Research

Bottom Line

Hey, if you're thinking about selling your home, the latest info indicates that now might be a good time. The housing market seems to be more robust than usual for this time of year. If you want to stay in the loop about what's going on in our local market, let's chat.