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Days on The Market Drops to New Low in April

Days on The Market Drops to New Low in April | MyKCM

According to recently released data from the National Association of Realtors (NAR), the median number of days that a home spent on the market hit a new low of 26 days in April, as 57% of homes were on the market for under a month.

NAR’s Chief Economist, Lawrence Yun, had this to say,

“What is available for sale is going under contract at a rapid pace. Since NAR began tracking this data in May 2011, the median days a listing was on the market was at an all-time low in April, and the share of homes sold in less than a month was at an all-time high.”

Strong buyer demand, a good economy, and a low inventory of new and existing homes for sale created the perfect storm to accelerate the time between listing and signing a contract.

The chart below shows the median days on the market from April 2017 to April 2018:

Days on The Market Drops to New Low in April | MyKCM

Bottom Line

If you are a homeowner who is debating whether or not to list your home for sale, know that national market conditions are primed for a quick turnaround! Let’s get together to discuss exactly what’s going on in our area, today!

1 thought on “Days on The Market Drops to New Low in April”

  1. In our area, the average days on the market dropped 36% in April 2018 over April 2017. Houses are selling fast! If you are considering making a move this year, now is the time. Prices are going up and so are interest rates. I’d love to visit with you about your real estate needs. Contact me at 417 438-5018 for your no pressure, no hassle, no obligation consultation.

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