How Many Days to Sell Your Home?

Since 2020 there has been a shortage of available homes and a surplus of buyers. This caused home prices to rise. Homes were selling within days for full price or more.  It has been a sellers market and it still is. 

With rising interest rates, the buyers are being more cautious. Rates have risen to close to 6% which raises the house payment. This has caused the market to slow down. Now we are seeing homes stay on the market for several weeks. This is still a short amount of time.  Homes in this market should be priced correctly (which is relatively high) in order to sell. In the last few weeks we have seen the number of listings double. In my opinion, the market is strong but now the listing is stale if it does not sell within 30 days. After 20 days or 20 showings the seller should consider adjusting their price or addressing some of the poor feedback. There must always have a balance between and condition.