By now, you all know we are neck-deep in a seller’s market.
But one thing to take into consideration is that the lower you go, the more of a seller’s market you are truly in. We ran some numbers to see how long homes listed in the $200,000s stay on the market. In June it was an average of 38 days, with only 1.4 months of inventory. The rule of thumb is that if there are 3 months or less of inventory, you are in a seller’s market.
Homes in the $200,000s
But here’s where it gets interesting:
We also explored the average days on market for homes in the $500,000s. June’s statistics were an average of 55 days on the market, with 4.1 months of inventory. Not really a seller’s market.
Homes in the $500,000s
So, if you are listing a home in the $500s, plan on being on the market for almost two months. Well, that is if you aren’t with an agent like the Goldsteins. The last home we listed in the $500s had multiple offers within 12 hours. Check out the listing here.
We have a lot of fun as sellers’ marketers…