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If a "regular" house in a "regular" neighborhood is listed on a Thursday, how many showings are normal/average? House is located in Somerset County, NJ. Listing price is $519K on a center hall colonial. (built in the 1970s)
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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I'm not familiar with your area, but here anything in that low price range would likely have people going through it all day and have multiple offers over asking the first or second day.
There are so many factors at work here, I'm not sure how you can expect intelligent responses. Is your home well-marketed, with great photos on the listing? Does the home look great, inside and out? Is it well-priced compared to other homes in the area? Is there a strong local market for homes such as yours? Are you talking about this weekend, a holiday period? (I can remember when my agent scheduled an open house on Father's Day.)
If you're trying to figure out whether the agent is getting you enough showings, I would wait 2-3 weeks and see how things go. A single weekend is not enough. If you're not seeing a whole lot of showings after a few weeks, something has to be adjusted -- the price, the house, the agent or a combination of those.
It depends a ton on how that price averages for your area. In my area, $200k will get you a pretty decent house with 3 or 4 bedrooms. And our market is hopping right now, so most houses under $200k will have many showings (at least a dozen, maybe 20 or more) and multiple offers in the first few days. From $200k to say $350k will probably have at least a few showings the first weekend and maybe one offer. Over $350k there are fewer listings and fewer buyers and activity would be slower.
From what I've heard of NJ, I would assume that your $500k house is similar to our $200k and under houses, so I would expect a lot of traffic if your inventory is limited, as many around the country are right now. However, if you are talking this weekend, as longislander said, it is a holiday weekend, which usually limits the traffic somewhat.
It also depends on how accessible you make it. If the house is appointment only for showings, as most houses in the $500k range would be in my area, you will have few showings. If you have the house vacant, or if you have an open house, you will have many.
Is your market active? Or slow as molasses? Makes a difference.
Markets are all different. In mine, open houses usually aren't done right away after listing. They tend to be two or three weeks after initial listing.
Thanks everyone. I have alot of faith in my realtor right now, she is a Plantinum club winner, it's one of the best agencies in the country. There are a ton of $600-800K houses on the market right now. Also, there are a bunch of high $500s on the marketing which had originally come on in the low to mid $600s.
Our house is somewhere in the middle. It's not one of the lower $400s, and it's not one of the mid to higher $500s which are the bigger houses built in the 1990s.
The agent wrote a tremendous description. The photos are good. Priced at $519 is pretty good. It's a reach for those who want a nicer house that has been lovingly maintained (dry, public water, public sewar, open concept first floor, finished basement, 20 x 40 inground pool with brand new liner), and it's also a very safe house for a higher executive that doesn't want to spend a ton of money on a house right now. House needs some minor cosmetics which we didn't finish doing (ie., there is some carpeting that could be replaced only because of the color) and some rooms we didn't paint. However, it's all new windows, custom trim/molding, private cul-de-sac with views and a private yard with pool.
We are also in NJ and selling our house around that price range. We had an open house last weekend and 11 families showed up. Since then, we've had two private showings. Unfortunately, although our house sounds like yours with a nice backyard, lovely pool, finished basement, people can't get beyond a few cosmetic issues. We havent had any offers or even people interested. The house really does need a fresh coat of paint which we are doing that over the course of the week. I'm quite surprised at some of the details buyers focus upon. One guy started obsessing over the number of zones for the alarm system and a spot on my daughter's wall. This has certainly been an eye opening experience for us. Hopefully we can get all the cosmetic details corrected and make the house look like new.
Our realtor assures us that it is priced to sell, at least according to the comps in our neighborhood. We shall see. I'm slightly depressed although it has only been a week so far.
The market is the best it has been in over 3 years. I just put a house on the market and had it sold in 1 day for full price. I think you can look at last year for your market and expect much better this year. It's a sellers market, but I don't expect this to be a big bubble. It's really low interest rates, lower inventor and pent up demand that has turned the market into a sellers market. It's a bit of a jump up from the bottom.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,551 posts, read 81,085,957 times
Reputation: 57728
Quote:
Originally Posted by Linmora
We are also in NJ and selling our house around that price range. We had an open house last weekend and 11 families showed up. Since then, we've had two private showings. Unfortunately, although our house sounds like yours with a nice backyard, lovely pool, finished basement, people can't get beyond a few cosmetic issues. We havent had any offers or even people interested. The house really does need a fresh coat of paint which we are doing that over the course of the week. I'm quite surprised at some of the details buyers focus upon. One guy started obsessing over the number of zones for the alarm system and a spot on my daughter's wall. This has certainly been an eye opening experience for us. Hopefully we can get all the cosmetic details corrected and make the house look like new.
Our realtor assures us that it is priced to sell, at least according to the comps in our neighborhood. We shall see. I'm slightly depressed although it has only been a week so far.
A lot of that has to do with programs on HGTV. Everyone expects hardwood floors, granite countertops, stailess appliances and two sink master bath with walk-in closets. In a really hot market with great schools that goes out the window with multiple offers on a fixer.
We are also in NJ and selling our house around that price range. We had an open house last weekend and 11 families showed up. Since then, we've had two private showings. Unfortunately, although our house sounds like yours with a nice backyard, lovely pool, finished basement, people can't get beyond a few cosmetic issues. We havent had any offers or even people interested. The house really does need a fresh coat of paint which we are doing that over the course of the week. I'm quite surprised at some of the details buyers focus upon. One guy started obsessing over the number of zones for the alarm system and a spot on my daughter's wall. This has certainly been an eye opening experience for us. Hopefully we can get all the cosmetic details corrected and make the house look like new.
Our realtor assures us that it is priced to sell, at least according to the comps in our neighborhood. We shall see. I'm slightly depressed although it has only been a week so far.
This should have been done before the house went on the market. Make sure you remove knick nacks, family photos and personal items. Clean out your closet. Throw out stuff you don't need. Make sure the yard is cleaned up and curb appeal is good. People need a clean neutral slate to imagine themselves in your house. Buying is part emotional. That's how you get a good and fast offer.
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