from “Keeping Current Matters” January 29, 2015
There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is… If it hasn’t sold yet, maybe it’s not priced properly.
After all 13,808 houses sold yesterday, 13,808 will sell today and 13,808 will sell tomorrow.
That is the average number of homes that sell each and every day in this country according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. NAR reported that sales are at an annual rate of 5.04 million. Divide that number by 365 (days in a year) and we can see that, on average, over 13,800 homes sell every day.
The report from NAR also revealed that there is currently only a 4.4 months supply of inventory available for sale, (6 months inventory is considered ‘historically normal’).
That means less competition for buyers who are out in the market now, but more houses will hit the market soon with spring right around the corner.
We realize that you want to get the fair market value for your home. However, if it hasn’t sold in today’s active real estate market, perhaps you should reconsider your current asking price.