Historically low inventory is creating one of the most competitive buying markets in recent memory—and that competition is driving a higher volume of offers and shorter close times for sellers.
According to the most recent REALTORS® Confidence Index from the National Association of REALTORS®, homes that sold in May 2021 had an average of five offers. And those offers are coming in quickly; according to the index, in May 2021, homes typically sold in 17 days—a significantly shorter time frame than May 2020, when homes sold, on average, in 26 days.
The Takeaway:
So, what does this mean for you? In today’s market, sellers typically have multiple offers to choose from, which means they can demand a higher price for their home—and close the deal fast. So, if you’re looking to sell your home quickly and profitably? Now is a great time to make a move.