New Listings On The Market Should Appear Fresher Today
If you have been looking for a home to buy in Tallahassee for several months, you might be noticing that the newest listings on the market are getting fresher.
When I use the term fresh, I mean so as a way to describe "homes for sale" that have not been on the market recently. By tracking "fresh" listings (versus "stale listings"), we can get an idea of the improving health of the market.
Years ago, we recorded a whopping 70% of home sellers failing to sell their homes, so oftentimes, "new" listings entering the Tallahassee MLS were not new at all. They were merely recycled from a previous listing period when the home had failed to sell.
So the purpose of today's post is to examine the quality of the newest MLS listings and to observe whether or not the Tallahassee real estate market is getting more or less fresh.
New Listings In Tallahassee
The following real estate graph shows the freshness of the Tallahassee housing market.
The total number of listings (on average) entering the market each day is recorded on the left vertical axis. "Fresh" listings are shown in blue (representing those that have not been recently listed for sale in the Tallahassee MLS), while "Stale" listings are shown in orange.
The ratio of new stale listings to all the new listings is shown as a shadow and recorded on the right vertical axis. This is the "great news" in our report, the trend is showing that new listings are getting fresher all the time.
How Fresh Is Fresh?
Four out of five new listings hitting the market each day are fresh, and this is the best we've seen in many years.
This means that buyers who are ready to make a decision on where they want to live merely need to set up a free notification account on our property search tool and the fresh listings (that meet their specific criteria) will be emailed to them at whichever frequency they would like.
The internet has made it far easier to be a homebuyer. No more having to scour the neighborhood on a daily basis waiting for the next new listing, you can "set it, and forget it" and we'll do all the work for you.
How To Find Fresh New Listings
Unfortunately, consumers are being misled about the freshness of listings on all real estate websites. Why? Because websites get their information on properties from the local MLS systems, and these systems are easily manipulated by the Realtors who enter the listings online.
For example, you can do a search and choose "Freshness" (time on the market) as your desired sort order, but the results you receive will include homes that have been listed for years showing up as brand new listings. Why?
Because "time on the market" online merely measures the time on the market of the current listing period. If a home listing gets canceled and a then re-listed, this new instance resets the market time calendar to zero.
So the key to finding fresh new listings is two-fold:
- Register for the top local property search tool like the one we offer for finding listings in Tallahassee. And
- Interview and hire a well-trained real estate buyer's agent who knows how to properly research a property to see how long it has truly been on the market.
Examining market time is just one of the many things we research when it comes time to helping a buyer prepare an offer on a home for sale. Remember, knowledge is power, make sure what you think you know about fresh new listings is accurate.
Home Buying For Smart People
A process designed to save you money when buying a home
Something tells us you’re just … well … smarter than most people looking to buy a home.
You’re not naive, you are looking for a house to call home, and you want to make sure that you love the home you buy, but also get a great value.
In other words, you don’t have to be an Einstein to “get” the home buying process. But you do have to be prepared.