You don’t get a second chance to make a first impression. This could not be any more true than when listing a home for sale. In fact, the first week after listing a home for sale on the market is the most critical. In a real estate market experiencing tight inventory like the current one, the first week can become even more important. This is precisely why attention to every detail from the listing photos and de-cluttering the home to pricing it appropriately is so important.
The first 5 days
Given the consistently low inventory of homes for sale throughout the country, there seems to be more pent-up demand than ever from buyers when a listing hits the market. A recent analysis of more than 6 million properties nationwide by the company ShowingTime revealed that 64 markets averaged double-digit showings per listing in June. While this number is fairly high, it is lower than when 113 markets averaged double-digit showings per listing in the month of May. Nonetheless, the first 5 days of a listing continue to see a hyperactive number of showings with offers being submitted extremely quickly.
Given the red hot real estate market in South Florida, most serious home buyers are now conditioned to act swiftly with seeing new listings and making offers to purchase immediately. Overall, buyer demand continues to remain strong in South Florida and throughout most of the country. Across the various regions of the country, only the Northeast has posted a drop in showings as compared to 2020. Not surprisingly, the South region showed the most year-over-year growth in number of showings at 20.5%.
Regardless of whether it is a seller’s market or a buyer’s market, it is imperative that you pay attention to every detail when listing your home for sale. In the end, the initial listing price, photos, and condition of the property can be the difference between fielding multiple offers within the first several days or your listing becoming stale on the market. It is important to remember that once a listing has been on the market for several months, many prospective buyers tend to believe that there is either an issue with the property or the seller is unreasonable. A local and knowledgeable real estate agent will be best to guide you on various things to consider based on your local market. Lastly, when pricing your property it is crucial to not let emotions enter the equation. A thorough comparative market analysis should be extremely helpful in determining a proper valuation for a list price.
Are you looking to buy or sell a property in South Florida? Now more than ever, it is critical to have a qualified real estate team and the proper search tools behind you. At Live South Florida Realty, Inc., we have been a leader in the South Florida market for many years. Let our team of professionals assist you with buying or selling your piece of paradise today! In addition, our recently launched “Florida Home Search” app is now available on the Apple App Store and Google Play Store. With real-time MLS feeds, this app lets you set your own alerts to notify you as soon as a property meeting your needs hits the market. Furthermore, it will also let you know of recent closed sales in your area so that you may be even more educated on the market. Be sure to download this app for your smartphone or tablet today!