In a typical real estate market, we have a 6 month supply of homes available. That means that the average home sells in approximately 6 months on the market.
Things are different in this very hot seller’s market that we’re in right now. In 36 of the 50 states homes sold, on average, in less than 60 days. In March the market was even hotter. Your typical home went under contract in March in only 34 days.
New Jersey is one of the states that takes the longest time to be under contract. Homes in New Jersey in the 61 to 90 days on the market range. Whereas many states, including Alaska, California, Colorado and more or on the market for less than 30 days.