We all know that there are seasonal market shifts. We typically see them (or at least most do) September through January, and then February through August or September. There are of course some variables, in my opinion these are the most common.
The reason I bringing this up are 2 fold. I like to keep on top of things in the market, this helps with pricing and asking for price adjustments if needed. Secondly, I have 2 listings that have not flown off the shelves, that should have and this makes me take a hard look as to why.
I pulled some numbers to help validate or invalidate my notion here. A quick synopsis of what I found. Sold listings are running 24 days on market for the Sacramento and Placer county areas for the majority of sales. Pending listings are running at 23 days on average. The kicker, Active listings are running at 33 days. What does this mean? Having nearly 13 years’ experience in real estate and having gone through a few market shifts, I have seen a few things, the actives will be a fairly good indicator of where we are headed, the sold listings are history and pending sales are what’s going on now. I also watch what other agents are doing and I keep seeing time and time again on the social media sites, “price reduced and price improvement”.
So the questions looms, are we coming up to the end of the year, where we will see a slow down? I have a feeling that we are. The million dollar questions is, will it be a big slow down, or a small one? What are your thoughts on this in your area?