Summer Real Estate Sales

Happy Summer! A wonderful time for school kids, teachers and REALTORS!

Real estate is a seasonal business; and the Summer real estate sales season is a busy time. It’s the time of year when more homes are sold, and those homes sell in fewer days. Tracking Days on Market is important because buyers and sellers want to know, “How many days will it take to sell my home or to buy a new home?”

First quarter of 2016, the median number of days on market was 61 days. But take a close look at the chart and check out your price point; you’ll see it varies widely. The low inventory of homes in the $100-$300K range makes this price point the fastest moving segment of the market and most competitive. With more new construction homes on the market in the $750-1M price range, the inventory has increased and the days on market has increased.