Days to Sell

Does this graph look wild to you? It sure does to us! While the number of days taken for a newly listed house to go under contract fluctuates with the seasons, there are few things to understand from this graph about the real estate market of single-family homes in the greater Media, PA area. If we had to pick a year that exhibited the most classical trend throughout the seasons, that would be 2015. Houses sat much longer on the market in the cold season, and sold quickly in the Spring/Summer season, with a slowdown (spike in the graph) in September due to many people vacationing in July and August and families returning to school in August/September. However, the market has not been following that classical trend in the recent years. As an example, the fluctuations have been notably moderate since the beginning of 2017. The number of days needed for a newly listed house to sell averaged between 10 and 40 days, which is an overall strong and steady sellers’ market. We have seen that houses took a little longer to sell in February of 2019 due to a spike in interest rates that was experienced starting in November of 2018. Overall, the market has been extremely strong in the recent years, to a point where seasonal effects have been minimal. Only major forces such as interest rates can shake this Sellers’ market that our Media area continues to experience. Are you interested in learning how these trends may affect your selling or buying plans? Contact our team at info@TheAffinityTeam.com, or give us a call at 215-285-6435.

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