Inventory is picking up with a 61.1% increase week over week of coming soon activity bolstering our average daily active county by 8.5% over last week. Pending transactions continued to tick up slightly another 1.4% on top of the 76.9% increase we experienced last week.
Sellers are grasping how dire the inventory shortage is and are becoming more aggressive in their initial asking price. With 4 median days on market sellers have 1 weekend to make a good impression and get under contract for top dollar. Sellers overpricing their homes will find themselves considering a price reduction by weekend number 2. Showing data leads the way, based on data from last week new listings should have received 19 showings in the first weekend and by the time they had 26 showings they should have received at least one contract.
Showing data can be pulled from showingtime.com, under reports and target market analysis. Consider tailoring your search by zip code and price range using the last week of showings to gauge if your pricing is inline with competing listings in your target market.
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