Homes are selling more quickly with inventory tightening in some markets, according to a news release from realtor.org and the National Association of Realtors. Another sign that the housing industry is recovering.
"A new measure shows the typical amount of time it takes to sell a home is shrinking, and for traditional sellers is now in the range of historic norms for a balanced market, well below the cyclical peak reached in 2009, according to the National Association of Realtors®.
The median time a home was listed for sale on the market1 was 69 days in July 2012, down 29.6 percent from 98 days in July 2011. The median reflects a wide spectrum; one-third of homes purchased in July were on the market for less than a month, while one in five was on the market for at least six months." To continue reading this article from realtor.org please follow the link.
Our market here in Sun Valley, ID and the surrounding areas is experiencing this as well. In July 2011, the average days on market for single family homes was 453, and in July 2012 the average was 308, down 32%.
Statistics provided by the Sun Valley Board of Realtors
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