I hate to be the bearer of bad news for some, but YES, there IS an average number of showings to sell a house. It may vary across regions or across time, but at any given point in time, and for any given region, there absolutely IS a statistical average.
I apologize that I do not know the specific answer, but I feel badly for Chad asking a question, then receiving over half of the responses saying there is no average, when there absolutely is such a number. A real estate professional may not know what the average is, but that does not mean that the average does not exist. The fact that the sample set may vary greatly from the average also does not limit the fact or authenticity of the average.
How any specific property will sell in relation to number of showings will certainly vary from that average, in high relation to condition, the market, the price, and the preparation. But, variances are expected ... without variances there would be no meaning to a statistical average.
As with any sampling of occurrences, there is an average, a mean, a standard deviation, and a variance. They are all strictly defined as a means of describing a set of varying occurrences.
Guess what â€“ the magic 8-ball says that â€œsigns point to your neighborhoodâ€™s new market price being $230K.â€
I see youâ€™re in Uncasville. As goes the gaming industry, so goes Uncasville. Guess what? Gaming revenue is down in Vegas for the first time in the last decade. We know this because the hotels/casinos in Vegas are owned by publicly traded companies. The link to the Marketwatch article is below.
Do you think the demand for casino/spa vacations to Connecticut is increasing or decreasing? Do you think that Foxwoods or Mohegan Sun, the areaâ€™s largest employers, are somehow bound by different fundamentals? Do you think that they are somehow insulated?
The answer is no, theyâ€™re not.
Go ahead, wait for your $250K "wishing price" and 6 months from now, when you realize that you should have sold for $230K, you'll be getting offers of $190K and kicking yourself for being greedy.
I guess the real question is this: do you want to be motivated by greed, or wait and while and be motivated by fear? Act rationally now and save yourself some stress.
Your choice. The market is adjusting faster than even us housing bears could have guessed. Plan accordingly and don't ride this thing down any further than you need to.