That would be a sign of a faulty selling strategy, not of a cooling market. One particular home might stay on the market for a long time because the seller is asking too much. She’s not referring to individual properties. Robinson cautions that she’s talking about median days on market for neighborhoods, cities and metro areas. “If things are staying on the market a little longer, versus staying for a couple of days, then it might be time for to get back in the market,” says Terri Robinson, a real-estate agent with Re/Max Distinctive in Ashburn, Virginia. Quick sales imply many competitors, and slower sales signal fewer competitors. By comparison, 2019’s median days on market was 59.5. This metric, called “days on market,” is an indicator of the level of competition, and 17 days is a sign of a competitive market.
Of homes sold in July, half had been on the market for 17 days or fewer, according to NAR. See: Check out these bargain homes in Europe’s oldest university cities When homes stay on the market longer
When the market cools and conditions are kinder to buyers, “you won’t see multiple offers of 15 or 20, you might have just one or two other offers, or you’ll be the only one,” says Selma Hepp, deputy chief economist for CoreLogic, a property information and analytics provider. Plenty of homes receive double-digit numbers of offers.
Homes sold in July 2020 received an average of 2.9 offers each in July 2021, they received 4.5 offers on average, according to the National Association of Realtors. Competition among buyers intensified this year.
0 kommentar(er)
