Showing activity shows that buyers are still looking. Activity has been consistent since Labor Day… and this week is the highest in the last five years… a good sign it is time to get your house ready to sell.
The drop in Coming Soon listings isn’t surprising heading into the holiday season, even price reductions are coming back down. But what stands out to me in this week’s market stats is the sharp rise in ‘Back on Market’ listings, up even more since last week. There can be a number of reasons… from something that couldn’t be resolved after an inspection, to buyers getting cold feet, to financing issues (could be a buyer losing a job, or a rise in insurance costs pricing them out of their purchase, or an appraisal issue, or…)… a sign that it’s never over until it’s over.
Overall, new listings and pending sales are following the typical seasonal trend… still ahead of last year. Coming soon listings are falling behind last year, which could indicate a further drop in new listings… which could be an opportunity for sellers.
Thinking about getting ready to sell in 2025? See the info below from our blog at Keeping Matters Current for a list of the most common seller improvements.
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
