Monday, December 04, 2006

Did someone ask about expired listings??

Well if the question wasn't' asked here, the subject was talked about over at John Wakes site. So I set off on a quick look see into our own expired listings in our market in Kingman. Check the following out on data collected so far this calendar year.

  • January = zero
  • February = one
  • March = zero
  • April = one
  • May = zero
  • June = six
So far the first half of the year showed only 8 expired listings for single family homes in the area's of the city that I track for data. Let's see how we are doing for the second half of the year.

  • July = 28
  • August = 32
  • September = 71
  • October = 89
  • November = 85
Wow 305 so far for the second half of the year!! Now typically many expired's end up back as listings either with the original Realtor or with a different Brokerage. I haven't researched which listings re-upped and do not intend to. I simply find the information interesting and wanted to share.

Since sales continue to be slow the total amount of inventory of SFR's has decreased somewhat over the past 3 months and the data above probably has more to do with it than the sales volume. The charts I produce in my sales reports continue to tell the story that sellers still haven't adjusted to the buyers market and as a result there is still quite a gap between sellers and buyers. Us Realtors are right in the middle of it all (keep in mind that all my data comes from Realtors in the Data Exchange), I suspect that many Members are simply agreeing with the sellers to get the listing instead of preparing the seller on the reality of the current market.

305 expired's in the last 5 months after only 8 the first 6 months of the year, that says a lot.

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