Homes Are Selling Nearly 3x Faster
We keep watching for it... but there are absolutely no signs of a market slowdown anywhere in the data. If anything, we're seeing the market continue to heat up.
Median home price is surging, and immediate sales are growing in total number and as a percentage of new listings. Of the 75,000 new listings this week, 25,000 of them went into contract immediately.
Median Days on Market (DOM) has also plummeted to just 35 days. Last year DOM was 55 at the end of February, while pre-pandemic pace was a much more normal 85 days. Just an incredible and unprecedented pace.
This data is for the United States alone. If you need to find out what is happening in your area let me know.
Homes Are Selling Nearly 3x Faster Than Pre-Pandemic