Buyers are Back as the Median Selling Time Trends Higher

The median time on market metric measures the time it takes from the initial listing of a property until a contract is signed. As the following data will show, in strong market, properties will typically sell quickly while in weaker markets where stock levels are high and buyer urgency is absent, properties tend to take longer to sell.

Over the three months to April 2019, the median time on market for a dwelling nationally was 60 days. As the chart shows, the typical selling time has risen…