Houses Are Still Selling Fast

<article class="post-930180 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-930180"><span class="entry-date">February 6, 2024</span><div class="entry-header center-block text-center"><h1 class="entry-title">Houses Are Still Selling Fast</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Houses+Are+Still+Selling+Fast&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fhouses-are-still-selling-fast%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="Houses Are Still Selling Fast Simplifying The Market" decoding="async" loading="lazy" src="https://media.agentaprd.com/sites/222/20240206-Houses-Are-Still-Selling-Fast.webp" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width="358"/>
<p>Have you been thinking about <a href="https://www.simplifyingthemarket.com/2024/02/01/dont-wait-until-spring-to-sell-your-house/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">selling your house</a>? If so, here’s some good news. While the housing market isn’t as frenzied as it was during the <a href="https://www.simplifyingthemarket.com/2023/05/30/todays-real-estate-market-the-unicorns-have-galloped-off/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">‘unicorn’ years</a> when houses were selling quicker than ever, they’re still selling faster than normal.</p>
<p>The graph below uses <a href="https://www.realtor.com/research/data/" rel="noopener noreferrer" target="_blank">data</a> from <em>Realtor.com</em> to tell the story of median days on the market for every January from 2017 all the way through the latest numbers available. For <em>Realtor.com</em>, days on the market means from the time a house is listed for sale until its closing date or the date it’s taken off the market. This metric can help give you an idea of just how quickly homes are selling compared to more normal years:</p>
<p> <a href="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240205/20240206-Homes-Spent-Less-Time-on-Market.png" rel="noopener noreferrer" target="_blank"><img decoding="async" src="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240205/20240206-Homes-Spent-Less-Time-on-Market.png"/></a></p>
<p></p>
<p>When you look at the most recent data (<em>shown in green</em>), it’s clear homes are selling faster than they usually would (<em>shown in blue</em>). In fact, the only years when houses sold even faster than they are right now were the abnormal ‘unicorn’ years (<em>shown in pink</em>). <a href="https://www.realtor.com/research/january-2024-data/" rel="noopener noreferrer" target="_blank">According</a> to <em>Realtor.com</em>:</p>
<blockquote><p><em>“Homes spent 69 days on the market, </em><strong><em>which is three days shorter than last year and more than two weeks shorter than before the COVID-19 pandemic</em></strong><em>.”</em></p></blockquote>
<h4><strong>What Does This Mean for You?</strong></h4>
<p>Homes are <a href="https://www.simplifyingthemarket.com/2024/01/22/3-must-dos-when-selling-your-house-in-2024/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">selling faster</a> than the norm for this time of year – and your house may sell quickly too. That’s because more people are looking to buy now that <a href="https://www.simplifyingthemarket.com/2024/01/17/2-reasons-why-todays-mortgage-rate-trend-is-good-for-sellers/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">mortgage rates</a> have come down, but there still aren’t <a href="https://www.simplifyingthemarket.com/2023/12/18/why-now-is-still-a-great-time-to-sell-your-house/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">enough homes</a> to go around. Mike Simonsen, Founder of <em>Altos Research</em>, <a href="https://www.housingwire.com/articles/the-strong-spring-real-estate-market-will-surprise-you-altos/" rel="noopener noreferrer" target="_blank">says</a>:</p>
<blockquote><p><em>“. . . 2024 is starting stronger than last year. And demand is increasing each week.”</em></p></blockquote>
<h3>Bottom Line</h3>
<p><span style="color: black;">If you’re wondering if it’s a good time to </span><a href="https://www.simplifyingthemarket.com/2024/01/17/2-reasons-why-todays-mortgage-rate-trend-is-good-for-sellers/" rel="noopener noreferrer" target="_blank">sell your home</a><span style="color: black;">, the most recent data suggests it is. The housing market appears to be stronger than it usually is at this time of year. To get the </span><a href="https://www.simplifyingthemarket.com/2024/01/29/will-a-silver-tsunami-change-the-2024-housing-market/" rel="noopener noreferrer" target="_blank">latest updates</a><span style="color: black;"> on what’s happening in your local market, connect with a real estate agent.</span></p>
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