Can your home sell in this market?
Absolutely, but you have to be The Best. Lets look at the past 24 hours as an example. In this particular market area, in the past 24 hours 37 New Listings have hit the streets(this is real data). 37 additional homes are now for sale. Plus there are 4 that were off the market for what ever reason but now now are Back on Market. That brings the total to 41 homes for sale. Plus 1 with a price increase, plus another 36 that have had Price Reductions, that brings us to 76 New or different listings in the past 24 hours. If another 23 are going to go Pending in the next 24 hours as happened here, that brings us to 76-23=53
New Listings |
37 |
|
|
Back on Market |
4 |
|
|
Price Increases |
1 |
|
|
Price Reductions |
36 |
|
|
Pendings |
23 |
|
|
Solds |
14 |
|
|
Expireds |
8 |
|
|
Inactives |
17 |
|
|
So the net effect is that JUST IN NEW or CHANGED LISTINGS you have 53 more homes to complete with than you did the day before you placed you home on the market. Subtract the 8 that will expire in the next 24 hours, brings you down to 45. 45 Additional homes to compete with just in the past 24 hours. This is not taking into account the thousands that are already on the market and not shown here.
I hope this helps you to understand why you HAVE to be THE BEST in this market. Can your home sell in this market? Absolutely, 14 did in the past 24 hours, and another 14 WILL SELL in the next 24 hours. They were The Best. Are you? Do yourself and your family a favor, Listen to your REALTOR®, they are there to help.
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