Friday, September 12, 2014

Priced to Sell

One sign of the health of the real estate market is that it's taking less and less time to sell a house. According to a study from Realtor.com, the national median age of real estate listings has dropped to 82 days, down from 85 in July 2013.

Not surprisingly, the quickest sales come from the least expensive homes. The median age of listings for homes listed at less than $1 million is just 80 days. Those homes were taking more like 100 days to sell as of July 2012.

More surprisingly, homes at the top end of the market are moving more quickly than less expensive ones. Homes that list for just under $30 million tend to be listed for 180 days. But for those listed above $30 million, the median time on the market drops to 139 days.

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