Port Orange News : Time on Market Down !!

According to the National Association of Realtors, the amount of time a home is on the market has been reduced. InJuly of 2011, the median time a home was listed for sale on the market was for an average of 98 days. In July of 2012, that time dropped to 69 days. This means we are in a more balanced market.

There is always a relationship between time on the market and demand. That is common sense. During a balanced market, a price increase of 1-2% above inflation is normal. During the hey-day of 2004-2005, the time listed for sale was down to 40 days or less.

We are in a good market where sellers are getting a fair market price. We just need the appraisers to keep up with the market.

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Information for this BLOG were taken from NAR NewsReleases