Monday Market Minute for Jan 6, 2020

What I would like to focus on today on these 2 numbers: the number of price decreases and the number of expired listings within the last 7 days.

1,848 listings had price decreases and that means that they were over-priced. In the past years, many sellers were able to get away with over-pricing homes especially when inventory was lower, but as the market shifts, this is not the case anymore.

2,447 listings have expired, which means that the sellers had their home on the market for sale with an agent, but it did not successfully sell during the listing time-frame. The #1 reason why homes expire and do not sell during their listing period is that they are over-priced.

With that being said, it is becoming increasingly important to hire an agent that knows how to price correctly and strategically market your home.

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