Are you considering putting your house on the market?

Here’s some great news tailored just for you, Steve Ord clients: The real estate market might not be as wild as it was during the ‘unicorn’ era, but homes are still flying off the shelves at an impressive pace.

Drawing insights from Realtor.com, let’s delve into the median days on the market for January, spanning from 2017 to the latest available figures. For Realtor.com, this metric measures the time from listing a property for sale until its closing date or withdrawal from the market, offering a glimpse into the rapidity of home sales compared to typical years.

Observing the most recent statistics, it’s evident that homes are selling faster than usual. In fact, the only instances where homes sold even quicker were during the extraordinary ‘unicorn’ years, according to Realtor.com.

“In 2024, homes spent an average of 69 days on the market, three days shorter than the previous year and over two weeks shorter than pre-COVID-19 pandemic levels.”

What Does This Mean for You, Steve Ord Clients?

Homes are selling at an accelerated pace compared to the seasonal norm, indicating that your property might just find a buyer sooner than anticipated. With mortgage rates on a downward trend, coupled with a shortage of available homes, the demand for housing is on the rise, as highlighted by Mike Simonsen, the Founder of Altos Research:

“. . . 2024 is off to a stronger start than the previous year, with demand steadily increasing each week.”

Bottom Line: Is It Time to Sell?

If you’ve been contemplating selling your home, the latest data suggests that the timing couldn’t be better. The current state of the housing market portrays a robust scenario, particularly for this time of the year. To stay updated on your local market trends and make informed decisions, don’t hesitate to reach out to Steve Ord, your trusted real estate agent.