Here is a crazy stat that will be interesting for your sellers when you're sitting down to talk about a listing:
84% of the properties coming on the market are selling in less than 30 days across the country.
Now I would encourage you to dive deeper into your own local MLS and see what the number is for your local MLS. But it's probably gonna be somewhere in that neighborhood.
Now, another inverse number to that is what percentage of properties are staying on the market longer than six months? When you go back to 2011, that number would've been about 35%. Today, it’s 2%.
2% listings coming in the market are staying on for longer than six months.
You can just see how the market is so strong right now for sellers and how it's such an advantage to put your home on the market today as a seller.
Another great number to pair with these numbers is the fact that on average sellers are receiving 4.8 offers per listing. That's coming on the market in the United States. Let's call it five offers per listing.
Now that is another powerful reason why if you're thinking about selling, you should be coming on the market today.
The reason why we say that is because we don't have a crystal ball. We know what's happening with the market today, but we don't know what's gonna be happening with the market tomorrow.
But we do know one thing:
We know that interest rates are rising and as they rise more and more buyers will be priced out to the market and they won't be able to afford to come in and be a home buyer. So that will put pricing pressure on the market. And it may moderate the market.
We don't wanna wait for that to happen as a seller. We wanna take advantage of how hot the market is today and get these properties on the market so they can sell for a premium price.
Hopefully this helps you with conversations with your sellers.
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