Sometimes even the best agents have trouble getting showings on their listings. When that happens, sellers may express doubt about the marketing plan. How about an ad in the paper? Or an open house? New pictures, perhaps? They forget that we do this for a living. We know what works and what doesn’t. And we know that for getting showings, nothing beats MLS. It’s the first place buyers and agents look for homes. It’s been so successful, that it’s made all other forms of advertising obsolete. So if you’re not getting showings, you don’t need more ads, open houses or new pictures. You need to lower the price. The market is competitive. Well-priced homes will get the first showings. Knowing this, our strategy is to lower the asking price in increments until we begin to get calls and showings. Once that happens, it’s likely an offer isn’t far behind. Finding the right price is a delicate, sometimes difficult task. But it’s critical to our success. We have the experience you can rely on to guide you along the way.

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For the past 10 years, we have provided the Detached Sales To List Ratio as a part of our Weekly Report. This Ratio is based on the number of detached sales in the past 30 days divided by the current detached listing count. The number yielded helps us predict pricing trends. For instance, a figure below 12% for any sustained period of time suggests a buyer’s market and lower prices. A number between 12% and 19% indicates a balanced market with steady prices. And a number over 19%, as we saw between June 2020 and June 2022, shows a seller’s market and rising prices. This Week's Sales To List Ratio, 13%, supports the recent trend of a more balanced market. Where do we go from here? A lot depends on listings. If the supply stays low, the Ratio will likely remain in the teens. If the supply increases, the Ratio could fall into buyer’s market territory.

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