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45 Percent of Properties Were on the Market for Less than a Month in May 2015

Approximately 45 percent of properties were on the market for less than a month when sold (46 percent in April; 41 percent in May 2014), according to the May 2015 REALTORS® Confidence Index Survey.

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With tight inventory, properties that closed in May 2015 were typically on the market for a relatively short period of time at 40 days, about the same days as in May but shorter compared to last year’s (39 days in April 2015; 47 days in May 2014).[1]  Short sales were on the market for the longest time at 131 days, while foreclosed properties typically stayed on the market at 56 days. Non-distressed properties were on the market at 38 days.

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