For those thinking of buying a home, this map is eye opening. The darkest blue states average days on market homes for sale are there up to 30 days those states include California and Texas. The next darkest blue including Arizona and Illinois have homes on the market averaging 31 to 45 days.
My state of Florida and also Georgia and Nevada have an average of 46 to 60 days. That is double the first group. Then the states that are showing the gold color have average days on market before coming off market with a signed contract is from 61 to 90 days. Actually 3 months of inventory is a healthy market in my opinion. I see that Vermont is the alone state with over 90 days on market.
So what does this mean for a buyer? Have your mortgage approval in hand and a nice escrow deposit all ready so you can place an offer on your favorite home. Low invwentory can cause multiple offer situations where you have multiple offers being presented to the seller. A professional realtor will prepare and present that offer to the selling side. They will tell you how to stand out with the right advise to suit your unique situation.