43 Percent of Properties Were on the Market for Less than a Month in July 2015

Properties that closed in July 2015 were typically on the market for at 42 days (34 days in June 2015; 48 days in July 2014), according to the July 2015 REALTORS® Confidence Index Survey Report11 Days on market typically increase after June due to seasonality effects.  Seasonality combined with a slightly slowing market resulted in properties staying on the market for a few more days.

Short sales were on the market for the longest time at 135 days, while foreclosed properties typically stayed on the market at 49 days. Non-distressed properties were on the market at 41 days.

days on marketApproximately 43 percent of properties were on the market for less than a month when sold (47 percent in June 2015; 40 percent in July 2014).

11 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 is the number of days at which half of the properties stayed on the market.

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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