Sedona Verde Life - Homes are selling quickly in 2016
According to the National Association of Realtors’ (NAR) Existing Home Sales Report, homes were on market for an average of 58 days in December. This was slightly longer than the 54 days in November, but still better than the 66 days experienced in December 2014.
32% of homes across the country were on the market for less than a month!
Colorado, Utah and Delaware led all states as homes are selling in 30 days or less on average. The map below was created using results from NAR’s Monthly Realtor Confidence Survey.
Buyer demand remains strong. The inventory of homes available for sale remains low. Arizona is averaging 30-45 days on the market. In the Sedona/ Verde Valley market it is the same. A shortage of inventory has homes flying off the market. Could it be a seller's market? As we head toward spring and summer which is typically our busiest selling season, we could see the days on market even shorten more. What does that mean if you are thinking of selling your home? Now could be an excellent time to sell.
If you are thinking about listing your home for sale this year, let's get together to talk about how you can take advantage of current market conditions! We love what we do and would love to help you! Contact Beth and James Adams with Russ Lyon Sotheby's Intl. Realty.