14,986 Homes Sold Yesterday… Did Yours?

14,986 Homes Sold Yesterday… Did Yours?

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, or maybe it isn’t getting the exposure that it deserves.

After all 14,986 houses sold yesterday, 14,986 will sell today and 14,986 will sell tomorrow.

14,986!

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 5.59 million. Divide that number by 365 (days in a year) and we can see that, on average, over 14,986 homes sell every day.

The report from NAR also revealed that there is currently only a 4.0-month supply of inventory available for sale, (6-months inventory is considered ‘historically normal’).

This means that there are not enough homes available for sale to satisfy the buyers who are out in the market now in record numbers. Your home SHOULD be selling.

Bottom Line

I realize that you want to get the fair market value for your home. You need to consider the fact that you may need to list it with a Realtor if you haven’t. Otherwise, however, if it hasn’t sold in today’s active real estate market, perhaps you should reconsider your current asking price.

Home Sales Rise Despite a Low Inventory

Home Sales Rise Despite a Low Inventory

Some Highlights:

  • Existing Home Sales rose to an annual rate of 5.47 million, representing an 11% increase year-over-year.
  • Inventory levels remain below the 6-month supply needed for a normal market at a 4.0-month supply.
  • Lawrence Yun, NAR’s Chief Economist, warns: “The spring buying season is right around the corner and current supply levels aren’t even close to what’s needed to accommodate the subsequent growth in housing demand.”

Gaining the Seller’s Edge – Tips for Selling Your Home

I wanted to hand out some quick tips for selling your home here in Tahoe.Good morning everybody, last time we spoke we had snow falling down and more on the way. That did not end up being the case, however, and we have late Spring-like conditions out there now.  Everything else I said about it being a seller’s market is still true. This is a fantastic time to be selling your Tahoe home if that is your intention.  In fact while trying to record this I got three calls between 7:30 and 8:30 alone on a listing of mine.

So on the topic of selling I wanted to discuss briefly the Tahoe market and how things are different here. In many of the “hot” markets sellers will often have inspections, clearances, and permitting background work done before being put on the market.  Here in the Lake Tahoe real estate market, that is done very rarely. I strongly believe that any seller’s who do that up here have a competitive edge and may be able to get sold sooner and potentially for more money than other properties which haven’t done so.

I’d love to know what you think? Let me know below.