Are real estate listings a good way of judging the market in an area?
The active listings in an area are what is left on the market and are often skewed toward unpopular property types or overpriced properties. For example, if high-end homes aren’t selling as quickly as low-end homes, the average price of the properties that are for sale could be much higher than that of the average home. Our sold statistics for an area are a much better representation of what is available and a better indication of the value of nearby properties. If you are looking for a home and you are in no rush, look at the homes that are pending or have sold recently. Keep your eyes peeled for similar houses as they come on to the market. The best deals go quickly, even in a slow market.
Related Questions
- My real estate agent and real estate attorney both say I stand a good chance in getting a home below market value at an auction. Is that possible?
- How can I find information about the real estate market specific to my area (Fayetteville, NC)?
- Can good values still be found in the industrial real estate market?
