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If It Hasn’t Sold Yet…

properly priced home

There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is… Is it a properly priced home? If it hasn’t sold yet, it’s likely not. Particularly in the Bozeman area real estate market.

After all, 15,014 houses sold yesterday, 15,014 will sell today and 15,014 will sell tomorrow.

15,014!

That is the average number of homes that sell each and every day in this country, according to the National Association of Realtors’ (NAR)  latest Existing Home Sales Report. NAR reported that sales are at an annual rate of 5.48 million. Divide that number by 365 (days in a year) and we can see that, on average, over 15,014 homes sell every day. That’s a LOT of real estate transactions!

The report from NAR also revealed that there is currently only a 3.8-month supply of inventory available for sale, (6-months inventory is considered ‘historically normal’).

This means that there are  not enough homes available for sale to satisfy the buyers who are out in the market now in record numbers. This holds even more true in the Bozeman area real estate market.

Bottom Line

Everyone wants to get the fair market value for their home. Is it a properly priced home? If it hasn’t sold in today’s active real estate market, perhaps you should reconsider your current asking price.

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