[JayCT]

Originally Posted by brown_dog_us

A great way to compare demand from one market to another is to use redfin and check out the number of views. This house in Milford has 82 views in 69 days while this house in suburban Atlanta has 304 in the same number of days.

This comparison makes no sense. There is no correlation between the health of a real estate market and the number of hits on a website. Roswell has a population over 90,000 while Milford is about 53,000. Plus Atlanta is one of the largest metro area in the country with over 5.8 million. Metro New Haven has under 900,000. That makes a big difference in the number of people looking for homes. Jay

[Stylo]

Originally Posted by Reilly1017

I respectfully disagree that this proves anything. The population in Atlanta is much higher than in and around Milford. Since most clicks on real estate come in the first week of a listing, I would expect ATL area listings to have more total views than most listing in CT based on population alone. The more relevant comparison would be percentage of people that clicked on a given home and compare (example 1000 people ran the search and 100 clicked, that’s a 10%). Even that doesn’t mean anything but at least it would be more apples to apples.

By your logic the housing market in VT is terrible because the population is so small the views are all low compared to big cities. However, individual towns in VT could be flourishing.

I don’t know anyone that uses Redfin. My house had 1000 views very quickly on Zillow.

[kidyankee764]

Originally Posted by JayCT

This comparison makes no sense. There is no correlation between the health of a real estate market and the number of hits on a website. Roswell has a population over 90,000 while Milford is about 53,000. Plus Atlanta is one of the largest metro area in the country with over 5.8 million. Metro New Haven has under 900,000. That makes a big difference in the number of people looking for homes. Jay

I agree. A home in a rural area will not have as many views but demand can be higher because less homes are on the market. Means very little.

[Cambium]

Was at a party over the weekend and yet another story from someone I didn't know. He said home across the street (In Norwalk) was put on the market last month and in 3 weeks was sold. What the heck is going on? Were all these people just waiting to buy together? Good times happening. Lets hope its not a blowing bubble again! #KeepItSlow&Steady

[brown_dog_us]

Originally Posted by brown_dog_us

A great way to compare demand from one market to another is to use redfin and check out the number of views. This house in Milford has 82 views in 69 days while this house in suburban Atlanta has 304 in the same number of days.

I should have explained this better. Things like Days on the Market are not very beneficial because different locations classify the days differently and real estate agents often delist/relist houses to make them look new to the market. Real estate developers and builders pay for web traffic numbers from sites like redfin, zillow, and realtor to gauge interest in different types of properties and in different markets. Regular people don't have access to those numbers, but we can look at the views on sites like redfin to get an idea of demand. I picked Milford and suburban Atlanta as an example because people have mentioned both of those places on this thread.

[kidyankee764]

Originally Posted by brown_dog_us

I should have explained this better. Things like Days on the Market are not very beneficial because different locations classify the days differently and real estate agents often delist/relist houses to make them look new to the market. Real estate developers and builders pay for web traffic numbers from sites like redfin, zillow, and realtor to gauge interest in different types of properties and in different markets. Regular people don't have access to those numbers, but we can look at the views on sites like redfin to get an idea of demand. I picked Milford and suburban Atlanta as an example because people have mentioned both of those places on this thread.

You are 100% correct with your DOM explanation. I tried to explain similar a few pages back however it wasn’t taken well.

[JayCT]

Originally Posted by brown_dog_us

I should have explained this better. Things like Days on the Market are not very beneficial because different locations classify the days differently and real estate agents often delist/relist houses to make them look new to the market. Real estate developers and builders pay for web traffic numbers from sites like redfin, zillow, and realtor to gauge interest in different types of properties and in different markets. Regular people don't have access to those numbers, but we can look at the views on sites like redfin to get an idea of demand. I picked Milford and suburban Atlanta as an example because people have mentioned both of those places on this thread.

You are correct about some listings being taken off and then put back on the market but this action is not exclusive to Connecticut. I have seen this in other state's listings and would think the same thing happens all over the country including Atlanta. I do know that Zillow shows the listing history of properties and you can see this has happened. Still for lack of better information, Days on the Market is the best thing we have available to judge if the market is a Sellers Market or not. Jay

[kidyankee764]

Originally Posted by JayCT

You are correct about some listings being taken off and then put back on the market but this action is not exclusive to Connecticut. I have seen this in other state's listings and would think the same thing happens all over the country including Atlanta. I do know that Zillow shows the listing history of properties and you can see this has happened. Still for lack of better information, Days on the Market is the best thing we have available to judge if the market is a Sellers Market or not. Jay

You’re correct it’s the best thing at face value but if some research is done, one can quickly realize there are far more factors to determine what constitutes a hot or cold market. Zillow’s measures are hardly accurate.

[mdovell]

Originally Posted by brown_dog_us

I should have explained this better. Things like Days on the Market are not very beneficial because different locations classify the days differently and real estate agents often delist/relist houses to make them look new to the market. .

Do they still do that? I know of one development that said "last one left" on a condo development for three years. It was to the point where the white sign yellowed!

[parentologist]

A good indicator of the health of the market is inventory, as compared to inventory at that time of year, in prior years. When the market is really slow, eventually, the inventory just builds up. A first sign of a tightening market is that the inventory decreases. Yes, as the market picks up, some people who were waiting, do then put their houses on the market, thus increasing inventory. And when prices are low, people who have the choice to wait, do wait to list. But eventually people are forced to list, if they need to sell, so eventually the inventory builds up.

Any individual house that is over-priced, or has a fatal flaw, could sit forever in any market. And in any market, a house that is under-priced could go in a flash, since there are always buyers out there waiting to snap up a bargain.

I have not yet figured out how to get a historical record of inventory, other than through MLS. The available sites, like Zillow, don't give historical inventory charts. In my area, Redfin is worthless.