Move Up Buyers in Chester and Delaware Counties, make that move now.
Homes Continue to Sell Quickly Nationwide, How About Here?
As has been the case for the last several years, our area (Chesco and Delco) continue to trail the pace at which the national home sales market is improving.
The article says that nationally, homes were on the market for only 47 days in March. The corresponding figures for Chesco and Delco were 149 and 131 days respectively, about 3 times longer.
Why the big difference and what does it mean?
This is one more data point that says for first time buyers and move up buyers, this is the best time you will ever have to make that first buy or move up buy. These average days on market mean that buyers here have a bigger choice of homes than many parts of the country.
Prices are starting to go up in a lot of our area, but not much compared to the rest of the country. With prices going up, that move up house is only going to cost you more a year from now.
And, interest rates are still low, low, low. That will not last forever, but it is here now and buyers and move up buyers should take advantage of it.
The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report, which revealed that homes were on the market for an average of 47 days in March. This is a decrease from the 59 days reported in February, as well as the 52 days reported back in March 2015.
42% of homes across the country were on the market for less than a month, which is the highest it’s been since July 2015 (43%)!
Among the states with homes selling in 30 days or less are Washington, Oregon, and Minnesota. The map below was created using results from NAR’s Monthly Realtor Confidence Survey.
Buyer demand is increasing as the inventory of homes available for sale remains low. If you are thinking about listing your home for sale this year, let’s meet up so I can help you take advantage of current market conditions!
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