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Real estate agents in the area put their business interests aside , and many reported helping their clients board up their homes and ensure they were prepared for the aftermath. The most eye-popping data is for newlistings. Clearwater lost 81% of its listings, the highest rate among the five cities.
Ive been doing this since 2005 and I tell clients that Ive never seen a market like this, so we have to navigate it together. But on a comparable home, another of her clients had an offer below the asking price accepted. A substantial drop in newlistings is a contributing factor.
The market continues to grapple with insufficient inventory , Redfin reported. Newlistings have risen approximately 8% compared to last year, yet overall inventory remains below typical spring levels. Simultaneously, persistently high housing costs have driven pending home sales down by 4.2%
Unlike many other metropolitan areas across the country , the housing market in Southwest Florida is comparably flush with for-sale inventory. “I We are seeing a healthy increase in inventory, which we really needed.” Smith attributes the uptick in inventory to a bump in newlistings.
Real estate professionals throughout the state attribute the resilience of the state’s housing market to its perpetually low inventory problem. Inventory is almost nonexistent,” said Melissa Kingsbury , a Redfin agent who works in the southwest suburbs of Chicago. “If As of Feb. Across the state, as of Feb. 1 through Dec.
Real estate agents often make the mistake of believing their clients will remember them forever but they dont. Its up to us as agents to stay engaged and stay in contact with our clients. When you buy through our links, we may earn a commission. So, where do you start? Why send a regular real estate newsletter?
This proves your expertise to clients and allows you to provide them with knowledge about the real estate market. The median list price of homes in the US is $435,000; the median price of newlistings is $435,900. There is currently an inventory of 642,359 properties. In the office sector , move-outs declined 3.5
Monika DeRoussel was in a meeting, away from her phone and email, when a client messaged her that a property in their price range and desired neighborhood had a for-sale sign in the yard. When the meeting concluded, DeRoussel quickly reached out to the seller’s agent to see if her client could get in for a tour, but it was too late. “I
Real estate agents in the leafy suburbs of Bergen County, New Jersey say the current housing market — with historically low inventory and record-high prices — is actually more challenging than the multiple offer chaos they sweated through during the pandemic. “At Even if we get more listings, it is not going to be enough for people.
In Denver in particular, newlistings increased 29.12% month-over-month and 22.63% year-over-year. Active listings at month’s end rose 13.14% to 5,511 homes, an astounding 45.87% gain year-over-year. Serious buyers showed discernment as they know inventory is growing. With only 1.3 With only 1.3
Compass also said it is not seeing any changes in newlistings with regard to commission offers, whether on the Compass platform or on multiple listings services (MLSs). It’s launching a beta version of its client dashboard in October, with full rollout finishing at the beginning of 2025.
“We had a client recently list a property for $2.4 Luxury home inventory grows Inventory in the luxury home space rose 9.7% Luxury home inventory grows Inventory in the luxury home space rose 9.7% Non-luxury inventory rose 3.9%. million that we ended up selling for $2.6 in Q2, year-over-year.
The past year and a half, with its rising mortgage rates , low inventory, and economic uncertainty, has been a challenge for real estate pros, not to mention the buyers and sellers they serve. Regularly update content, share valuable insights about the local market, and interact with potential clients.
We have brought down expenses and continue to grow our agent count and inventory advantage,” Reffkin said. We found that more than 99% of newlistings in March included offers to pay the buyer’s agent. Furthermore, more than 96% of all listings included offers of 2% or more, and more than 67% are offering to pay 2.5%
Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 newlistings.”. Anecdotally, Realtors are telling me there is no shortage of clients or home seekers, but that scarce inventory remains a problem,” Yun said. “If That would bring the full-year total to 5.4
Nationwide housing inventory showed a glimmer of recovery toward the end of 2024. But these newlistings aren’t attracting buyers, and pending home sales dropped 4.2% But newlistings are heading in the opposite direction, according to Altos Research data. month over month in January.
Georgia MLS the Peach State’s largest real estate marketplace announced on Wednesday that it will partner with 12 local MLSs to enhance data access for all parties under one listing platform. This agreement connects more than 55,000 agents to a large inventory of properties under a single system.
“We are seeing a typical late-spring slowdown in newlistings and pending sales, but prices don’t typically peak until late August, and their growth remains completely unhinged,” said Daryl Fairweather, Redfin’s chief economist. ” How real estate agents can alleviate consumer pain points in a tight market.
Currently on Realtor.com , more than 2,000 homes are currently on the market in Knoxville with an average listing price of $270,000. But like the rest of the country, low housing inventory has hit the city hard. The KAAR also said housing inventory dropped for six straight months to start the new year. year-over-year.
One of my agents has a client who is making an offer on a house that will probably end up going for over $250,000 over list price and most of what we are seeing is either all cash offers or eliminating contingencies.”. Right now, the market has low inventory and when something good comes on the market there is a flood of activity.”
We already had very thin inventory and some of our deals are dead because houses have been ruined. Newlistings and pending home sales data from Altos Research captured the housing markets around Asheville coming to a screeching halt. There were 775 newlistings in Tampa on Sept.
Caruso said this is indicative of the markets in Indiana, where low inventory, high interest rates and inflationary pressure are still making it hard for clients to find — and afford — a home to buy. That’s led to a rise in newlistings in Indianapolis as more homeowners are putting their houses on the market.
Nationwide, the number of newlistings is up 8.2% The majority of inventory is becoming stale; as more than 60% of homes remain on the market for more than a month without selling. I’ve heard some clients say, ‘it’s so hot outside I don’t want to see anything,’” said Joe Hunt, a Redfin Manager in Phoenix.
If you’re an agent, team or brokerage looking to keep a pipeline of qualified listing leads coming your way, SmartZip may the solution you need. SmartZip uses predictive analytics to pinpoint likely sellers from 6 to 18 months in advance, offering a huge advantage in today’s low inventory market.
If an uptick in housing inventory and more favorable interest rates materialize in 2025, you’ll still need to find creative ways to generate buzz for your listings and expand your client network. Listing and marketing properties is a complicated process. Meeting newclients is the engine of your business.
Check out Wise Pelican Typically, you’d mail the just sold letter to homeowners who live around a property you just helped your client to sell. The goal of this type of letter is to promote a newlisting in the neighborhood, to position yourself as the expert by providing information about the listing, and to find more business.
She approaches real estate the same way she approached her healthcare work: ensuring that, from start to finish, whether buying or selling, her clients have a smooth transaction and achieve their goal. Q: How do your Millennial real estate clients find their way to you? A: My Millennial clients often come to me as a referral.
Success depends on how well (and how quickly) you can combine your own marketing skills with the right tools and support systems out there to help you convert leads into clients. Many real estate professionals turn to lead generation companies like the ones listed above to streamline the process and access more potential clients.
Market changes are inevitable, and often the hardest part about them is communicating shifts to clients in a way they can understand and, more importantly, accept. The first is Active Inventory , which is the number of homes actively on the market at a particular time. New Pending Sales is a “leading indicator.”
Good news for agents working with first-time home buyers on a budget: after nearly two years of ultra-low inventory and rising property values, small, affordable homes are starting to hit the market at a steady rate. As inventory continues to open up, sellers may be more receptive to best listing practices.
Granted, the job of a real estate agent is to get the highest price for their client, but they must still live in the real world by studying historical sales trends. Many listings have been getting multiple offers due to a shortage of housing inventory and the high demand we’ve experienced.
With so few newlistings hitting the market, I expect bidding wars to become more common and involve even more potential buyers as we head into the spring homebuying season,” Redfin chief economist Daryl Fairweather said in a statement. The inventory on the houses is gone,” he said. “If in December. A short-term trend?
Both inventory levels and newlistings increased significantly in recent months, leading to an 18 percent increase in sales and a 1.6 Both inventory levels and newlistings increased significantly in recent months, leading to an 18 percent increase in sales and a 1.6 A good time, while business is slow.
These are the two most frequently discussed items by both the people working in residential real estate and the customers and clients they serve. Despite high interest rates, some hungry buyers are competing over limited inventory. Supply of resale housing (as opposed to new construction) is shrinking across our region.
Factors like low inventory, high competition, and even the tools you use to navigate the market all factor into how quickly you can find properties you want to purchase. While the market is less severe, there is still a significant inventory shortage. Users can create reports to find prospective properties more efficiently.
Just like athletes, real estate professionals must stay in top form, learning new plays and adapting to the game’s ever-changing dynamics. It’s all about practice, skill, and perseverance, ensuring you’re ready to score big for your clients—and yourself. The more clients you help achieve their goals, the faster you’ll achieve your own.
With record-low inventory nationwide, real estate agents seem to be hearing the same thing day in and day out: “I’d list my home, but where would I move?” For most agents, that’s the end of the conversation, ending the possibility of taking a newlisting as well as facilitating the buyer side.
Falling newinventory is constraining transaction volumes while also supporting higher home prices. Except for the pandemic year of 2020, last month was the slowest April since at least 2008 when easy access to Northwest Multiple Listing Service data became available. Well, here’s a good one: a 4-bed, 2.75-bath bath , 3259 sq.
Secret #2 Sometimes, especially in a low-inventory market, your potential seller client may know about comparable sales you didn’t capture. If you’re showing your newlisting versus its competition, do you look priced right , overpriced or priced so well you’d be dying to write an offer and snap it up?
Prices have soared in most areas – including a 30% jump in the past year for single-family homes in King County – amid a shortage of inventory and a sharp rise in the number of buyers. The spring season is nearly over and the number of listings hitting the market has already started to decline, a few weeks earlier than most years.
The multi-pronged effort includes legislative and administrative actions to increase the number of affordable units and overall inventory. attorney who often represents clients for this form of homeownership. Even though we’re seeing inventory grow, it remains quite low,” notes Danielle Hale, chief economist at realtor.com.
Inventory continues to shrink to levels not seen since the days of disco, shag carpets and pet rocks. Amid unusually low inventory and an anticipated growing buyer pool, the median price of a single-family home will climb beyond $1M in Seattle’s summer months. at this time in 2023 (quite optimistic!).
Emerging from the pandemic, the chronic lack of inventory disrupted the principles of supply and demand, causing housing prices to soar. With elevated mortgage rates , we anticipate continued growth in listinginventory, a slowdown in housing price appreciation and ongoing innovations to assist professionals and consumers.
But it’s also due to a lack of housing inventory and the fact that rates continue to hover around the historic average of roughly 7%. Abrams also stressed the importance for agents to provide clients with historic perspective on mortgage rates. Making the choice to sell no homes is silly, Abrams said.
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