How Long Does It Take to Sell?

Not surprisingly, the number of days for a home to sell has slowed another 4 days to an average of 30 days in the MLS.

For homes that went pending last month, the average number of showings they received was 13. For those homes that remained active and didn’t go pending last month, the average number of showings was about 5. That means listings are seeing about 1-3 showings per week. Pretty slow activity! Thankfully, all it takes is one buyer for a home to sell…and we’re still seeing buyers out there who want to make the leap to purchase a home. They are just a little more picky now…which makes sense!

With inventory growing to 2.4 “Months of Inventory”, negotiating power of the seller is waning. At the same time, sellers that aren’t getting the number they want are more likely to just pull their homes from the market and wait til the spring. So it isn’t a total “free for all” out there. In fact, the average discount on list price was only .81% last month or about $5600.

It’s a tougher market to navigate for sure - give me a call if you need help!

What are you seeing out there? And what questions can I help with?

By the way….we’d love to be connected with anyone you know who may be considering a real estate move now or in the future. An email or text intro is all that’s needed to get started. :) Thank you for your connections!

Drew Morris