Do you ever see all those “For Sale” signs in front of other people’s houses and wonder, “Why the heck am I having so much trouble selling my home?”
Here’s your answer. In Scottsdale in 2009, only about 1 in 4 homes listed for sale by individuals actually sold.
So if you saw 4 (non bank-owned) “For Sale” signs on a street in Scottsdale, realize that on average only 1 of the 4 actually sold in 2009.
Unless you’re a bank, your odds of selling a Scottsdale listing in 2009 were about 25% - normal sales 23% and short sales 26%. (If you are indeed a bank, your odds of selling were about 69%.)
My analysis of MLS data for Scottsdale shows that for “normal” single family detached home listings in 2009;
- 1,978 listings sold successfully,
- 4,104 listings failed to sell and were taken off the market, and
- About 2,421 listings were still in the MLS but were unsold on December 31, 2009.
How do you increase your odds of selling? That’s a deep subject. Give me a call at 480-463-4475.
{ 2 comments… read them below or add one }
Philip 02.03.10 at 7:53 am
John,
As an active buyer’s broker, I am still amazed at the seller’s homes I see. Many remain as cluttered as ever, in need of neutral paint, with low curb appeal.
If these folks only were taken by their listing agents to current REO’s that for the most part are empty, read that as having no clutter, painted neutral and many with new carpeting (flooring) they would see their competition.
As lenders have gotten smarter, the public remains the same. No wonder it’s 4 to 1.
Pricing obviously also matters a ton, and many courent home owners can’t compete with lenders if they bought or refied in ‘05-07. I wonder how many of the private sales that did not sell were taken by listing agents who knew their client’s product was over priced but wanted to get their sign out anyway.
Have a great day! Philip
david wilson 02.07.10 at 10:46 am
UHHHH, I don’t know. Maybe, lower the price?
Wait, this subject is deep, very deep.