I just pulled the number of expired listings on Fresno MLS in the last 24 hours. Are you ready for the numbers?
216 EXPIRED LISTINGS!
and remember folks that's just last 24 hours! I did a blog on EXPIRED LISTINGS on Nov 1st of last year and the statistics have only gotten worse. In November I ran the numbers on the expireds and as you can see on the blog the average days on the market at that time was 165/185 days.
Today's expired listings have been on the market an average of 236/239 days!
Yes, this is a REALLY CRAPPY MARKET. BUT, Its my opinion that the primary reason that so many homes are expiring without buyers is PRICE.
In the last 24 hours we had 109 price reductions and 3 price increases ( the 3 increases all look illegitimate to me)
I just looked at one reduction that has been on the market for over 300 days and the agent has the all too common “This house… is priced to sell” in his marketing remarks.
if the house is priced to sell - how come then Mr. Agent you havent sold it? does that mean your marketing SUCKS? (Well, I wont post your crappy MLS pics or the MLS # )
Unfortunately, even with today's price reduction your listing is priced 40k to 60k too high. Looks to me like the listing will either expire or be on the market another 300 plus days.
AGENTS - do your clients and the real estate community a favor and figure out how to do a current CMA of your area so you can price your homes to sell. Either that or take the home off the market. This stagnant inventory isnt doing anyone any good.
Are you a buyer looking for a home in the Fresno area. Let me assist you in making an offer on a home so the sellers and their agents can find out what the TRUE sales price is.
Are you looking to SELL A HOME IN FRESNO? Look no further, I can help. You may not like what I have to say about the value of your home, but I can assure you I will be truthful with you and do my level best to get you the highest possible price in this very difficult market.
CALL ME: Lazarus @ 559-301-1647
Broker: Lazarus Realty