Seattle Houses Are Still Selling Fast
February 16, 2024
Are you contemplating selling your house? If yes, here’s some promising news. Though the housing market isn’t as hyperactive as during the ‘unicorn’ years, where homes sold rapidly, they’re still moving faster than the average pace.
The graph presented below utilizes data sourced from Realtor.com to illustrate the median days on the market for each January spanning from 2017 to the most recent available figures. According to Realtor.com, days on the market represent the duration from a house’s listing for sale until its closing date or removal from the market. This metric offers valuable insights into the speed of home sales in comparison to typical years:
Upon analyzing the latest data (depicted in green), it’s evident that homes are selling at a faster pace than their usual rate (illustrated in blue). Remarkably, the only instances when houses sold at an even quicker pace than present were during the extraordinary ‘unicorn’ years (highlighted in pink). According to Realtor.com:
“Homes spent 69 days on the market, which is three days shorter than last year and more than two weeks shorter than before the COVID-19 pandemic.”
What Does This Mean for You?
“. . . 2024 is starting stronger than last year. And demand is increasing each week.”
Bottom Line
If you’re wondering if it’s a good time to sell your home, the most recent data suggests it is. The housing market appears to be stronger than it usually is at this time of year. To get the latest updates on what’s happening in our local market, let’s connect.
If you’re contemplating whether now is an opportune moment to sell your home, recent data indicates that it indeed is. The housing market is exhibiting greater strength than its typical seasonal performance. Stay informed about the latest developments in our local market by connecting with us for timely updates.
