The current real estate market is an excellent example of the law of supply and demand. After a period of slowed activity due to COVID-19, buyers have emerged strong and ready to buy, but the lack of inventory is creating serious demand for properties — and driving up prices in the process.
According to realtor.com’s July Monthly Housing Trends report, the national median listing price in the United States is now $349,000. That’s an 8.5 percent increase year-over-year—and the highest listing price on record.
So, what does that mean for you? With listing prices at an all-time high, if you’re thinking about selling your home, now is the great time to make a move, take advantage of the buyer demand, and fetch top dollar for your property.