When I arrived at 8:00 am to meet my buyers for a showing of a new listing recently, cars were lining both sides of the street… it looked like an open house. The listing agent came out to confirm we were the fourth group for that time slot. They were allowing up to four overlapping showings at a time for this stunning mid-century modern home, and they had 58 showings booked for that first day on the market! It was sold and pending the next day!
This was a unique property in a demand location so it wasn’t a typical listing… but looking at a graph of MLS showings the last four years illustrates that there are more showings right now than there were at this time the last three years. (this year is orange on the chart below)
There aren’t enough listings to keep up with demand, resulting in lots of competition for the listings that are on the market. If you have been thinking you missed selling in a strong seller’s market… think again! There is still only about a 1.5 month supply of homes for sale… creating strong competition for those homes that are on the market!
Buyers could be looking for your house… but it has to be listed to reap the benefits of a sale! Contact us to get together to discuss the market for selling your home!
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
