National Association of Realtors Reports Time on Market Continues to Decline
One Third of Properties Sold Within One Month of Being on the Market
NAR (National Association of Realtors) recently announced that the time on market for properties before being sold has decreased since June of 2011. A decrease of time on the market for sold properties indicates a healthy real estate market with properties moving more quickly than before.
We analyzed market statistics from My Florida Regional MLS, of Charlotte County homes sold in June 2012 as compared to June of 2011, and noticed a similar trend occurring locally. In June 2011, median days on the market for properties sold in Charlotte County was 83 days. In June 2012, median days on the market decreased to 65 days, a 21.7% decrease from a year ago. We break down the market statistics in the pie charts below, detailing how long sold properties were on the market before being sold.