Six days really isn’t a long time.
The real estate market is going through a record-breaking phase which has been described as “red-hot” by a recent housing report. According to that same report, houses are under contract, on average, less than a week after being listed.
A new report from real-estate listing company Zillow says that houses are staying on the market just six days before being bought. The report was based on information collected during the month of May.
The report found that in some markets (Cincinnati, Kansas City and Columbus), some homes are only spending an average of three days on the market before going under contract. The report describes the time homes are spending on the market as record lows.