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.
Good luck Chad.
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The stats I have is that the average buyer looks at 10-12 homes. In California I am told NAR says 24. The bottom line is that if your property is not receiving showings or offers, you probably have a pricing problem (although not ALWAYS)
According to the NAR statistics most recently compiled the buyers of properties see 9 before purchasing.
Since this is an average it may have little meaning to most people.
Interestingly, NAR doesn't publish a similar figure for how many showings a listing may average prior to a sale.
Keep in mind that in the current media barrage of woeful real estate doom and gloom sound bites, any meaningful data from the past has no relavence.
In a stable market if I have 20 showings on a listing of mine and there are no offers or very low offers it usually tells me that I need to do some statistical work, carefully check the feedback from the agents who showed the property, analyze if something about the house itself needs to be corrected or last resort, see if a price reduction is in order.
It depends on the market and how the home is priced. In today's market things are taking a while longer. It could be hundreds of showings or the right person comes in makes an offer on day one.
If you have a home listed your agent should be keeping you informed of what they are doing to market the home, what the open house traffic is and what the feedback from agents as well as buyers is.
It is truely depending on giving all the requirements to your agent and the seeing just what you want. With so many homes on the market today I would average a few months on average.
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