My rule-of-thumb has been based on results.
When a new listing has a number of saves that are 5% or more of the views, then I have a hot listing that typically sells right away. My listing on La Costa Avenue is a week old and has been running around 3%, and then yesterday we started the listing of Karst (above).
For many, it feels like there aren’t as many buyers around.
The traffic at open houses is sparse, the number of offers is low (if any), and excuses are a-plenty. Rates, holidays, election, prices, you name it – there are a bundle of reasons we could identify as culprits of the current market condtions.
At my broker preview yesterday, and agent told me she has a new listing in Solana Beach that had 60 groups attend her open house last weekend. She was blown away, and multiple offers have been received. She said it’s well over the list price!
My listing on Karst was inputted by 9am yesterday and it was shown twice within hours!
The market is fine, and it’s doing what it is supposed to do – be a feedback machine about price. We’ll get through the next 45 days and launch into a new year full of surprises.
No matter what happens though, there’s nothing price won’t fix!
