Median Days On Market For Listings Going Under Contract In The Past Week:
All (44) Homes = median of 6 days
(22) New Homes = median of 0 days
(22)
Resale Homes = median of 38 days
As a result, I decided to dig deeper into the data to see if the (somewhat artificially) low days on market for new homes was obscuring a more significant upward shift in median days on market for resale homes.
And... as shown above... the new home data doesn't seem to be obscuring much.
Blue Line = All Homes (new and resale)
Orange Line = Resale Homes
As you can see, these two trends tend to track pretty closely together over time.
As such... disregard any hasty conclusions you or I drew yesterday about resale homes selling much more slowly than new homes.
Yes... there are some resale homes that are taking quite a while to sell... but for the most part, resale homes continue to sell very quickly.