“The (Realtor) Parking Lot Indicator”

Yeah, yeah, I know all the official statistics that purportedly capture what the housing market’s doing at any given moment.

The list includes both year-over-year and month-to-month changes in “New Listings,” “Pending Sales,” and “Closed Sales,” plus the Case-Shiller Home Price Index, NAR’s sales statistics, etc..

Here’s another, albeit less scientific measure:  how full or empty the Edina Realty – City Lakes parking lot is.

The caveat:  it’s how full or empty the parking lot is relative to normal.

Weekly Ebb & Flow

So, just before the weekly Broker meeting Tuesday mornings, the lot is typically full; Saturday night at 10 p.m. . .  not so much.

As a Realtor, when you’ve got company late on a weeknight — the case multiple times the last few weeks — you know the local market’s cooking . . .

See also, “My Favorite Leading Indicator:  ‘the Front Desk Index’“; “A Tale of Two Parking Lots”; “A Sea of Silver (Cars)”; and “Why I Call My Front Desk at 2:45 p.m. Sunday.”

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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