Homes Have an Average of Five Offers Before Selling
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.
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.
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