Homes Have an Average of Five Offers Before Selling

2021-07-07_16-05-25

Historically low inventory is creating one of the most competitive buying markets in recent memory—and that competition is driving a higher volume of offers and shorter close times for sellers.

According to the most recent REALTORS® Confidence Index from the National Association of REALTORS®, homes that sold in May 2021 had an average of five offers. And those offers are coming in quickly; according to the index, in May 2021, homes typically sold in 17 days—a significantly shorter time frame than May 2020, when homes sold, on average, in 26 days.

The Takeaway:

So, what does this mean for you? In today's market, sellers typically have multiple offers to choose from, which means they can demand a higher price for their home—and close the deal fast. So, if you're looking to sell your home quickly and profitably? Now is a great time to make a move. Contact me today at 847-651-6671. I'd love to help you navigate the selling process. I have lived here locally for 24 years and can position you extremely well to take advantage of the hot summer real estate market.