1/23/2023-90 Seconds of Real Estate Gold

January 25, 2023

Video Transcript

Speakers: Brooke Miller, Team Leader, Brooke Miller Real Estate, LLC

How many houses are for sale and what is buyer demand this week?

Brooke Miller: So the week ending on January 23, 2023, there were 274 houses on the market, and in that week only 60 were new listings, but 89 houses went under contract in the week.

How long is it taking for the average house to sell this week?

Brooke Miller: Of the 274 houses that were on the market, their average time on market was 60 days, but the ones that are going under contract and selling their average time on the market is between 30 and 31 days right now.

How do these numbers compare to this time last year?

Brooke Miller: Compared to the exact same week, last year, we have a lot more inventory. Last year, at this time, we had only 133 houses on the market. But in that week, 66 houses were new listings. This year we have 60 and 82 went under contract last year. 89 went under contract this year. And the other big difference is days on market. So last year, active homes on the market were on the market for an average of 40 days. So right now we're at 60, so a little bit longer. But homes that actually we're selling, we're selling between five and nine days on the market. So 30 days is a lot different now.

Best advice?

Brooke Miller: So if you're thinking of buying or selling your home this spring, reach out to us right away. We follow the market every single week. We know what's going on. And we can help you build your strategy whether you are buying a home or selling a home in this new real estate market.

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