Seizing the Opportunity: How Today's Housing Inventory Benefits Sellers

One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.

According to a recent report from Realtor.com

 “On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”

The graph below helps illustrate this point. It uses historical data to provide a more concrete look at how much the numbers are still lagging behind the level of inventory typical of a more normal market (see graph below):

It’s worth noting that 2020-2022 are not included in this graph. That’s because they were truly abnormal years for the housing market. To make the comparison fair, those have been omitted so they don’t distort the data.

When you compare the green bars for 2023 with the last normal years for the housing market (2017-2019), you can see the count of active listings is still far below the norm.

What Does This Mean for You? 

If you’re thinking about selling your house, that low inventory is why this is a great time to do so. Buyers have fewer choices now than they did in more normal years, and that’s continuing to impact some key statistics in the housing market. For example, sellers will be happy to see the following data from the latest Confidence Index from the National Association of Realtors (NAR):

  • The percent of homes that sold in less than a month ticked up slightly to 74%. 
  • The median days on market went down to 18 days, showing homes are still selling fast when priced right. 
  • The average number of offers on recently sold homes went up to 3.3 offers.

Bottom Line

When supply is so low, your house is going to be in the spotlight. That’s why sellers are seeing their homes sell a little faster and get more offers right now. If you’ve thought about selling, now’s the time to make a move. Let’s connect to get the process started.

1802 Properties
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$625,000
Neighborhood: Port Charlotte Sec 022
3
Beds
2F11/2
Baths
2,324
Sq.Ft.
2006
Year Built
1
Day on Site
C7494066
MLS
$265,000
Neighborhood: Port Charlotte Sec 010
3
Beds
2
Baths
1,690
Sq.Ft.
1960
Year Built
1
Day on Site
C7493739
MLS
$539,900
Neighborhood: Port Charlotte Sec 071
3
Beds
2
Baths
1,705
Sq.Ft.
2023
Year Built
1
Day on Site
D6136998
MLS
$330,000
Neighborhood: Heritage Oak Park 04 Rep
2
Beds
2
Baths
1,364
Sq.Ft.
2003
Year Built
2
Days on Site
C7493853
MLS
$269,990
Neighborhood: Port Charlotte Sec 045
4
Beds
2
Baths
1,657
Sq.Ft.
1960
Year Built
2
Days on Site
T3534228
MLS
$375,000
Neighborhood: Punta Gorda Isles Sec 23
3
Beds
2
Baths
2,110
Sq.Ft.
1990
Year Built
2
Days on Site
C7491827
MLS
2
Beds
2
Baths
1,327
Sq.Ft.
1996
Year Built
2
Days on Site
C7494064
MLS
$175,000
Neighborhood: Rolls Landing Ph 03 Bldg 06
2
Beds
2
Baths
1,308
Sq.Ft.
1985
Year Built
2
Days on Site
C7493898
MLS
$339,900
Neighborhood: Port Charlotte Sec 013
3
Beds
2
Baths
1,623
Sq.Ft.
1974
Year Built
3
Days on Site
C7493947
MLS
$565,000
Neighborhood: Port Charlotte Sec 078
3
Beds
3
Baths
2,676
Sq.Ft.
2022
Year Built
3
Days on Site
C7493855
MLS
$415,900
Neighborhood: Port Charlotte Sec 022
3
Beds
2
Baths
1,729
Sq.Ft.
1993
Year Built
3
Days on Site
C7493286
MLS
$117,000
Neighborhood: Plaza View
1
Beds
1F11/2
Baths
929
Sq.Ft.
1968
Year Built
3
Days on Site
C7493950
MLS

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