Why isn't my real estate listing not getting showings? With over 9,000 active listings in the Charleston MLS, but only about 700 sales a month, it's no wonder that sellers are not getting showings. It's sensory overload for a buyer. In fact, of the showings tracked by the Centralized Showing Service (CSS) for our area, the average listing is only getting 4-5 showings a month. So what the deal? According to CSS showing stats, the fastest selling bracket of homes measured by average days on market are those priced below $250,000. Yet, keep in mind there are still over 4500 homes priced below $250,000.
Statically according to the National Association of Realtors (NAR), homes should average about 10 showings per month and within 10 showings, an offer should be made. In a market flooded with housing inventory and based on an average showing 4.5 a month, it'll take at least 2 months to get an offer. Keep in mind that offer may not be acceptable to the seller or the counteroffer to the buyer so there's no guarantee, the offer will turn into a sale. So why aren't people coming...the price is too high! If your home is over priced for the neighborhood, condition, or amenities, buyers won't even come look. They have already done a drive by on the Internet and they think for what they see or don't see in the photos, they don't want to come in and look because they see 4 or 5 bigger, better deals down the street.
But why won't they just make an offer you ask? Let's look at a hypothetical example. If a buyer is looking for a 4 bedroom, 2 bath, 2 car garage home in Summerville, SC area and they have 183 options for their price point of $250,000 or under. If you home is listed above that, even just a few thousand dollars, they are not going to even see your listing because the buyer is only searching up to what they want or can afford. If they do happen to come visit and are not impressed with the house's upgrades or condition of the property, they have no reason to press forward b/c they have 183 other options which are already price within their range.
So what are buyers looking for? They are looking for a good value and a home that doesn't require a lot of work to move in that matches their specifications. Pricing your home right is paramount! As real estate advisers, we present the facts, market statistics and trends and we'll offer advice of what your home is worth and what we think it will sell for. In the Charleston real estate market, these two numbers have proven to be very different. It's up to the seller to make the choice to decide on the final price, however, if it doesn't get showings, that is the buyer's response saying the price is too high. It's time to reduce the price. At a minimum, price should be revisited every 30 days.
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We are approved by Boeing 3rdparty relocation company as Charleston Boeing Relocation Specialists with Carolina One Real Estate in Charleston, SC. Contact Top Real Estate Listing Agents, North Charleston, SC Relocation Experts, Licensed Realtors® in South Carolina at 843-849-5217 or info@CharlestonRelocationExperts.com to list your home for sale or to purchase a home in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County. The Charleston Relocation Experts Team specializes in relocations, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market. View all homes for sale at www.CharlestonRelocationExperts.com.