While the supply of homes available for sale has increased this year compared to last, we still do not have a balanced market.

The first graph shows supply this year has surpassed 2021 levels by over 30%. But compared to 2020, we’re just barely above the level of inventory we saw then. If you go back to 2019, the last normal year in real estate, we’re roughly 40% below the housing supply we had at that time.

Why does this matter to you? Inventory is low, and there is still demand for *properly priced* homes because there just aren’t enough homes available for sale YET.

Moving on to the second graph, the pre-pandemic numbers for average days on market are higher than the numbers we saw during the pandemic. That’s because the average days on the market started to decrease as homes sold at record pace during the pandemic. Most recently, due to the cooldown in the housing market, the average days on the market have started to tick back up slightly but are still below the pre-pandemic norm.

What does this mean for you? While homes aren’t selling as quickly as they did a few months ago, homes are still selling much faster than they did in more normal, pre-pandemic years. And if you price it right, your home could still go under contract quickly.

If you have questions about selling your house in today’s housing market, let’s connect!