Properties Typically Sold Within 39 days in April 2015

Amid tight inventory in most states, properties that closed in April 2015 were typically on the market for a relatively short period of time at 39 days (52 days in March 2015; 48 days in April 2014)[1], according to the April 2015 REALTORS® Confidence Index Survey.

Short sales were on the market for the longest time at 180 days, while foreclosed properties typically stayed on the market at 50 days. Non-distressed properties were on the market at 38 days.

Approximately 46 percent of properties were on the market for less than a month when sold (40 percent in March 2015; 41 percent in April 2014).

med days
distribution of time

[1] Respondents were asked “For the last house that you closed in the past month, how long was it on the market from listing to the time the seller accepted buyer’s offer?” A median of x days means that half of the properties were on the market for less than x days and another half of properties were on the market for more than x days.

Jed Smith, Managing Director, Quantitative Research

Jed Smith is Managing Director, Quantitative Research with the National Association of Realtors®. He has worked on real estate issues for the past 20 years, providing input on a variety of housing, commercial real estate, tax, and planning issues. Recently he has been involved in several international studies.

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