The housing market is confusing. Some homeowners have been waiting for months to put their home on the market because they don’t think people are buying homes right now. If that’s you, know that even though the housing market has slowed compared to the frenzy of a couple of years ago, it isn’t at a standstill. Contrary to your belief, buyers are still active, and plenty of homes are selling right now.
According to the National Association of Realtors (NAR), just over 4 million homes will sell this year based on the pace of sales right now. With some simple math, let’s break down what that means for you:
- 4.16 million homes divided by 365 days in a year = 11,397 houses sold each day
- 11,397 divided by 24 hours in a day = 475 homes sold per hour
- 475 divided by 60 minutes in an hour = about 8 homes sold each minute
So, on average, about 11,000 homes sell each day in this country.
A real estate expert can give you more information about how many houses are being sold in your neighborhood, the fantastic advantages that sellers are experiencing right now, and the most important things buyers are searching for in your area. Together you’ll use this knowledge to shape how you market your house based on local trends.
About Coldwell Banker Global Luxury®
The Coldwell Banker Global Luxury® program legacy traces its roots to 1933 and has been a world leader in luxury real estate since. Coldwell Banker Global Luxury Property Specialists are an exclusive group within the Coldwell Banker® system, making up under ten percent of independent sales associates affiliated with the brand worldwide.
Coldwell Banker affiliated agents conducted 48,444 transaction sides of homes priced at $1 million or more in 2022.
This equates to $288 million in daily luxury sales, with an average sales price of $2.2 million in this category.*
Coldwell Banker, the Coldwell Banker logo, Coldwell Banker Global Luxury, and the Coldwell Banker Global Luxury logo are registered marks owned by Coldwell Banker Real Estate LLC. Each franchise is independently owned and operated.
*Data based on closed and recorded buyer and/or seller transaction sides of homes sold for $1 million or more as reported by affiliates of the U.S. Coldwell Banker franchise system for the calendar year of 2022. USD$.
Key Takeaway
If you’ve been waiting to sell because you don’t think there are buyers, know today’s market is active. Every day you wait, around 11,000 other homeowners are selling. In the time it took you to read this, eight homes sold. When you’re ready to sell, too, let’s connect.
Other educational articles about the market and your home search are under Karen’s Blog. Additionally, explore the search bar for other topics of interest.
