A recent report by leading online real estate marketplace Zillow states that homes all over the country are selling at an incredible speed. Taking every state into account, the average home seller is accepting offers in less than seven days. To think that a house can go on the market and off again over the span of a single weekend is mind boggling. Compared to the same time last year, about 60% of homes took at least a month to go under contract.
In California, the story is the same. Approximately 55% of Sacramento homes go pending in under a week, with over 80% under contract in just two weeks. It is slightly different in other areas but still meets or beats the current national average in cities like San Diego and San Francisco, with just over 80% of homes for sale getting pending contracts in two weeks, and 60% of San Jose homes going under contract in one to two weeks. Amazing all around.
The speed of these sales can be stressful for the buyer, and even some sellers, but remember that patience and preparedness are as important as always. The right place will appear at the right price, especially now, but it’s helpful to speak with a Realtor about having all your financial needs ready to go at a moment’s notice.
It cannot be stressed enough that those who can take the most advantage of this time of quick turnover are those who can jump the moment their Realtor brings them a prospect. They find the right house in the right school district at the right price and snatch it up before someone else does. They know they have everything ready to go and swoop in with confidence. A qualified and trusted Realtor or real estate agent can help you prepare, so you have everything you need in order when your dream home becomes available.
Any delay, such as a change in a loan opportunity, and that perfect home may slip through your fingers. It can be frustrating, especially for home buyers, but things will change. Economists believe that sound fundamentals are in place. It may take some time for the explosive sellers market to slow down, but it won’t take forever. In the meantime, remember to be prepared to act at a moment’s notice, and be patient. The right house is out there, and with the right preparation, you’ll be in your dream home making memories soon.
At Soldavi, we are committed to helping Merced-area home buyers find their perfect home, and assisting sellers in moving their properties quickly and at the best price on the market. Reach out to Soldavi today and let us help you with your real estate needs. We would love to hear from you!