Not All Listings Are Created Equal
Notwithstanding fairly steady Fall listing and selling activity, there is a perception afoot amongst many Twin Cities Realtors now that the market is deceptively slow.
How can that be?
Here’s one theory: while showings statistics overall are flat to slightly down, they’re unusually concentrated amongst a relatively small percentage of “For Sale” homes.
Real Estate’s 80-20 Rule
Which ones would those be?
The homes newest to market and “priced to sell” (as they say).
Meanwhile, Buyers are ignoring homes that originally debuted on the market last Summer (or earlier) and may still be overpriced.
If you assume, for argument’s sake, that the market splits 20%/80% between those two categories, something like 80% of listing agents are getting scant showings on their listings right now — and reporting that the market feels “slow.”
See also, “Listing Agent Lament: ‘Where’d All the Buyers Go??‘”
