Houses are selling in half the time. The average days on market has gone down to 21 days, where it was at 43 days last January. The median sales price is up 14.1% from $266,300 in January 2021 to now $303,900. (Data from National Association of Realtors).
Prices are high and, in most situations, properties are only on the market for a few days before they go under agreement. Most are selling over and above asking price because of the multiple bids that sellers are receiving due to the limited inventory. On average, a seller receives 3.7 offers on their home. We are seeing a lot of cash offers with no contingencies. Buyers are still waiving home inspections and appraisals as they were in the beginning of the pandemic.
The bottom line is if you are considering selling your home now, but you are worried a huge obstacle stands in your way, contact our office today. Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.
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