Today’s Housing Inventory Is Beneficial For Sellers
One of the biggest challenges facing the housing market today is how few homes there are for sale compared to the number of buyers. Let’s dive in and take a closer look at just how limited the housing inventory is and the latest information on active listings within a given month as it compares to normal levels.
“On average, active inventory in June  was 50.6% below pre-pandemic 2017–2019 levels.”
The graph below helps to emphasize that point. It uses historical data to provide a more concrete look at how the numbers are still trailing behind the typical inventory levels of a more normal market.
Please note that the years 2020 to 2022 are not included in this graph, due to them being very abnormal years for the housing market due to COVID-19. By omitting that data, it helps to make a fairer comparison so those years don’t distort the data.
As you can clearly see, the orange bars for 2023 are well below the averages for all 6 months.
What does this mean for you?
If you are considering selling your home, now is a fantastic time to do so due to the low inventory levels. Buyers have fewer choices now than they did in previous years, and that’s continuing to impact various key statistics in the housing market. For example, the following data from the Confidence Index from the National Association of Realtors illustrates how the market is benefiting sellers:
- The percent of homes that sold in less than a month is up to about 74%.
- The median days on market went down to just 18 days, meaning that homes are selling fast if priced right.
- The average number of offers on recently sold homes is up to about 3.3 offers.
When the housing supply is low like it is in today’s market, your house is going to be in the spotlight. If you are interested in selling your home efficiently, contact Premier Sotheby's real estate professional Dianne Anderson today. Dianne can help you wade through the current housing market to make a true splash on the Southwest Florida housing scene.