The best way to get a feel for whether or not a home for sale fits your needs is to see it in person. Nothing beats actually walking through a house to get a sense of its layout and how it would accommodate your life. That’s why, when buyers find a listing they’re really interested in, they typically schedule a time to go see it before deciding whether or not to make an offer. How many showings a listed home garners is an excellent indicator of how many buyers are interested in it. Which is why measuring the average number of showings per listing is an effective way to gauge how much competition today’s buyers should expect when shopping for a house. Put simply, when the number of showings per listing is high, competition and bidding wars are more common. So how many showings are listings getting on average these days? According to one recent analysis, the number of showings per listing has begun to fall. In fact, average showings dropped to 7 in May from 8.49 the month before. That’s down about 13 percent from last year at the same time. It’s also a sign that the market has slowed and buyer activity this summer isn’t quite as intense as it was last year. (source)
SOCIAL MEDIA EDIT: Worried about buyer competition? Well, there are signs it’s begun to slow. In fact, the average number of showings per listing fell in May and is now down 13 percent from last year at the same time.