Time On Market Falls To New Low In April | Fort Lauderdale Real Estate

Posted by John Sabia on Thursday, June 14th, 2018 at 5:59pm.

blog photo of house - www.johnsabia.com

Days On Market Drops In April

The National Association of Realtors (NAR) recently released data showing the median number of days a property spent on the market for sale reached a new low of twenty-six days in April, as 57% of homes were on the market for less than 30 days.

Lawrence Yun, NAR's Chief Economist was quoted saying:

"What is available for sale is going under contract at a rapid pace. Since NAR began tracking this data in May 2011, the median days a listing was on the market was at an all-time low in April, and the share of homes sold in less than a month was at an all-time high."

Strong demand from homebuyers, a soaring economy, and a low supply of inventory of new and existing homes and condos for sale created the perfect storm to accelerate the time between listing a property and signing a purchase contract.

Illustrated below in the chart is the median days on the market from April 2017 to April 2018

blog chart median days on market - www.johnsabia.com 

In Closing

If you are a homeowner who is debating whether or not this is the right time to list your home for sale, consider the market conditions nationwide are primed for a quick turnaround! Let's get together to discuss exactly what's going on in the Fort Lauderdale Real Estate area today!

If you are ready to begin the home-selling process in one of the below Fort Lauderdale neighoborhoods, contact us today.

Disclaimer:The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. John Sabia PA and Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. John Sabia PA and Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

John Sabia

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