Homes have been moving a bit more quickly over the past month or so. Of the 9 sales that closed this week, none were on the market for longer than 17 days. Further, the 3 listings that went pending last week were on the market for 7,9, and 16 days respectively. This time last year, homes were sitting on the market for an average of 30-40 days. Tight inventory and uncertainty about the next few months likely has a lot to do with this. Motivated buyers may be feeling pressure to make a move on a house they like, knowing that another home that fits their needs might not come on the market for some time, with the holidays and the notoriously slow winter months ahead of us. Buyer's agents have also probably filled them in on just how slow inventory was to pick up this past winter, further motivating them to not waste time shopping around once they find a home they like.
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