As one might expect, there are more buyers able to and interested in buying a home for $200K than for $300K... and more buyers able to and interested in buying a home for $300K than for $400K. You get the picture.
As such, we currently find buyer demand exceeding supply in varying degrees by price range.
These numbers are completely made up, but are likely not too far off base given recent listings or transactions I have been a party to or have heard about in our local market...
SHOWINGS IN WEEK ONE, BY PRICE RANGE:
- Under $200K = 20+
- $200K - $300K = 15 - 20
- $300K - $400K = 10 - 15
- $500K - $700K = 5 - 10
- Over $700K = 2 - 5
If you're seeing more showings than outlined above, your house may be slightly more popular than the average house based on its location and condition - or you might have priced it "just right" for the current market.
If you're seeing fewer showings than outlined above, your house maybe slightly less popular than the average house based on it's location and condition - or you might have priced it "a bit too high" for the current market.
Again, the data above is completely fictional (not based on actual showing data) but is included to paint a general picture of the differing amounts of buyer demand in different price ranges in the current market.