Housing Inventory is low currently for residential real estate (homes and condos combined). This is causing the average days on the market to decrease in the last few months. See graph below.
Average Days on Market 2017
Although, looking at the stats to date for 2017, the average days on the market are currently at 216. In 2016 the average was similar so there is not too much of a difference at this point. This is the time of year that we typically add a lot more houses to the market (increasing competition) so it will be interesting to see if the trend line for lower days on the market continues.
Below are the current stats for 2017 to date.
Looking at the inventory and sales graph below you will notice a big jump in sold homes in May. This article is being written on June 14 so I do believe the June graph will either be even or surpass May 2017 based on the current pending sales.
