(June 21, 2019) Some new data released on online page views from Redfin.com supports that the initial listing of a home is a critical time.
This may seem like common sense, but with concrete data showing how many more eyes are on your home the day it is listed than on the day of a price reduction, sellers should really consider their “out-of-the-gate” listing price.
Home sellers receive half as many visits on day two and then just a quarter as many after a week listed on the market, the analysis found.
The Redfin data reviewed page views counts of 1.2 million listings of homes for sale across the U.S. between January 2018 and March 2019 that had at least one price drop during the period.
They then averaged the number of views listings got each day on the market, relative to their listing date and the date of their first price drop.
The data was indexed to 100 views on day one of the listing in order to clearly show the volume of listing views relative to day one of a new listing.
The data showed that homes get 3.4 times more views the day they are listed than the day after a price drop:
• Day one—100 views
• Day two—51 views
• Day seven—25 views
• Day 14—21 views
• Day 30—17 views
• Day one—29 views
• Day two—18 views
• Day seven and Day 14—15 views respectively
• Day 30—13 views
With understanding that the day a new listing hits the market is the highest visibility, it is also important to have your best foot forward when it comes to de-cluttering, cleanliness, and exterior improvements.
It’s also important to “go live” with the best photography possible, and the most complete number of photographs.
– Lauren Bunting is a licensed REALTOR®/Associate Broker with Bunting Realty, Inc. in Berlin.