🏠 When supply is so low, your house is going to be in the spotlight. That’s why sellers are seeing their homes sell a little faster and get more offers right now.
🧐 According to a recent report from Realtor.com:
“On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”
You can see from the chart that the count of active listings on 2023 (in orange) is far below the norm. Note that the abnormal years of 2020-2022 have been omitted so they don’t distort the data.
❤ What Does This Mean for You?
If you are thinking about selling your house, that low inventory is why this is a great time to do so. Buyers have fewer choices now than they did in more normal years, and that’s continuing to impact some key statistics in the housing market. The latest Confidence Index from the National Association of Realtors (NAR) shows:
👉 The percent of homes that sold in less than a month ticked up slightly to 74%.
👉 The median days on market went down to 18 days, showing homes are still selling fast when priced right.
👉 The average number of offers on recently sold homes went up to 3.3 offers.
If you are looking into selling your home in Palos Verdes and South Bay, contact your local expert📲Stephen Haw at (310) 503-9886 to find out what will be your best move. DRE#00808646 Keller Williams Palos Verdes Realty www.StephenHaw.com
Call 310.503.9886 for professional guidance from The Stephen Haw Group, your local experts with international connections.