Updated May 23rd 2013 1:58PM
By Diana Olick
Strong demand and still limited supply mean homes are now selling nearly three times as fast as they normally would. The average number of days a listing stayed on the market in April was 46, down from 62 in March and down from the normal pace of 90-120 days, according to the National Association of Realtors.
"I have a seller, his house came on, he got a full-price offer, and he refused to take it because he wanted multiples. Really?" asked Jane Fairweather, a real estate agent in Montgomery County Maryland, a suburb of Washington, D.C. Fairweather said homes in her market are selling in an average of 23 days because inventories are way down and demand is strong. The number of listings in Montgomery County were down 41 percent in April from 2011. In April of 2011, one third of the listings went under contract. In April of this year, 67 percent went under contract.
Read more here: http://realestate.aol.com/blog/2013/05/23/homes-selling-fast?ncid=edlinkusreal00000001&ts=1369430392
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