For those of you who have heard it is finally a seller’s market, it may not be a surprise to you that the showing traffic (showings per listed home) is up dramatically.
With fewer homes on the market and the same or more buyers, the supply is low and the demand is high. This dynamic directly affects the number of showings per listed home and shortens the time it takes to sell.
In the chart below you can see that showings in March were the strongest in 4 years, even stronger than during both buyer tax credit periods! Note the number of showings for homes over $450,000! The market is extremely strong in the luxury market as well.
If you know anyone thinking of selling please let me know. I will provide a free market analysis of their home to see if it is the right time for them to sell. Overall the trend is to sell, but I look at each situation individually because each neighborhood is different.