A few years ago, home buyers interested in a new listing would have to hurry to schedule a showing, hoping to see the house and get a good offer in before it sold to another buyer who moved just a bit faster. During those years, a good house listed on a Thursday could be off the market by Monday. Naturally, that pace is stressful for buyers. It also drives prices higher as homes with multiple offers typically sell for higher than their listed price. Fortunately, however, things have slowed down since then and homes now stay on the market longer. In fact, one new analysis says the typical home in February spent 66 days on the market before going under contract. That’s up from 58 days a year earlier, and also the slowest pace since 2016. But buyers shouldn’t get too complacent. Good homes will go faster than the average and it also depends on where you’re buying and how many other good homes are available for sale in the area. (source)
