Lack of showings due to the recent bad weather?

[ADVentive]

The ones that are on my street are probably the best comparables. The first is the one that was not on MLS and is bigger than my house and sold for $266K (92/sf), and the other sold in 55 days and is smaller and sold for $213K (95/sf). The 55 days was their second contract after their first buyer fell through, and they did lower their price to get there. My house is priced at $239K (95/sf), so between those two. The house that sold in 5 days was much smaller and less expensive than mine at $160K (103/sf). The one that sold in 25 days is most similar to mine in terms of square footage, and sold for $228K (91/sf), but that house also has differences from us such as that they are on a slab and we are on a crawl (different builder). I'm not sure why the one at 121 days took so long, but they got 98/sf so it could be price.

The highest agent CMA came in at $249K, and the lowest said "between $230-240K". So that's a 7.5% spread if you are counting it as $230-249. We basically came in right in the middle of that range. Everyone used the 55 day house on our street in their CMAs, but the other houses varied widely.

[BoBromhal]

what does your Realtor say??

I *think* Orange County Mebane is definitely mostly in the TriangleMLS. Between the features of the system available to us and our professional relationships, your Realtor is the only source in these parts to ask.

Unless someone on City-Data lives in Mebane and has a similar house also for sale right now.

Certainly in Wake County, showings slowed for the weather for the 12 days or rain with almost no sunshine that we saw.

[kelly237]

Originally Posted by ADVentive

We listed our house about 10 days ago, but have had zero showings. We were wondering if anyone thinks that the recent weather could be a factor? Our realtor thinks it could be.

You're realtor should know (not think) whether or not all showings in general are down during the last 10 days...

[MikeJaquish]

Yes, weather is a factor. It is not the only factor, and there are buyers out, but weather is a deterrent for the less active shopper.

Mebane is interesting small market.
Absorption of inventory is in the 5 month range, i.e., across all price points there is 5 months' inventory vs. contracts.
But, good stuff still moves quickly.
The disparity between Median and Average Days On Market indicates that aggressive pricing and perception of value are dominant.

Active DOM
Average = 128
Median = 90

Contingent/Pending DOM
Average = 58
Median = 19

Closed DOM (Tracks Pending, as DOM cease to accumulate when the listing status changes to Pending.)
Average = 53
Median = 19

CSS Showings Report for 27302 Zip Code
Weekly numbers of showings from7/29--10/06, price range from $100,000--$350,000:

43 70 57 49 70 49 46 64 29 37

The September 23--September 29 week was a significant drop off! Weather? Football?

[ADVentive]

I just wanted to report back that things have improved this week! Maybe due to better weather? Who knows!