How Many Showings on Average to Sell a House? – 2020 update
2020 is a year that will go down in Portland real estate market infamy. We had a massive drop in showings, over 60% in March when COVID first hit the real estate market. The rebound in our market was about as fast as the decline, about 100% market rebound in July 2020. Typically the real estate market in Portland peaks in April or May, this year it peaked in July and has been cooling a touch since then.
Average Number of Showings to Sell a Home
COVID has changed our world in many ways. It has also changed how many showings it takes to sell a home, but not as much as one might think. Real estate agents are trying to reduce the number of showings per sale, utilizing 3D home tours in greater numbers to help buyers more thoroughly vet homes before touring in-person. This research article is focusing on in-person showings, typically buyers agents bringing a buyer through a home, and our report is finding that little change has occurred.
The total number of weekly showings in Oregon is slightly down in 2020.
In 2019 from April through August (the normal hot buying season) the Oregon market averaged about 25,000 showings a week (amazingly consistent over that timeframe). In 2020, after the rebound, we are averaging a fairly consistent 23,000 showings week, down about 8% from last year during the same timeframe. So despite the Pandemic we are not seeing a significant decrease in showings, some decrease but nothing dramatic.
How many buyer showings can you expect to sell?
In Oregon in August, as of the day of this article, there are 6,544 active residential listings in RMLS. There are 8,964 homes pending. In the last month 4,604 homes sold.
The last three weeks of the Oregon market drove a fairly consistent 23,000 showing visitors a week.
3.5 Showings a Week on Average
So we can expect that this week the average home in Oregon will get 3.5 showings on average.
24 Showings to Sell a Home on Average
Now the average time to sell a listing in Oregon right now is about 49 days or seven weeks. So you could expect to average about 24 showings to sell a home in Oregon.
Rural vs. City. Detached vs. Condo.
Homes in Oregon metro areas are selling roughly 33% percent faster than homes in rural Oregon which means you could be averaging 5 showings a week and selling in 5 weeks in a metro, or in a rural area 3 showings a week and selling in 8 weeks. Similarly in our metro condos and townhomes are taking a lot longer to sell and will get less showings on average per week. Luxury homes also historically take longer to sell and average less visitors per week. When you have a property that takes longer to sell it can be good to know that the average amount of showings to sell a home in Oregon is 24, which can help you project out how long it might take to sell your property.
Best time to sell a home in Oregon.
If you put your home up for sale at the right time, it obviously will sell faster than the average for the year. The real estate market is seasonal. Typically the best time to sell a home in Oregon is March through July and more specifically April – May. Of course, this year that all got thrown out the window, but most expect we will return to our typical seasonal real estate market trends in 2021.
We sell homes faster on average.
If you’re considering selling a home in Oregon or Washington in the next 12 months check out what we offer sellers here. We pay more money to market our client’s homes so they sell faster and for more, and at the same time, charge less commission than average – backing it up with a cancel anytime no charge contract.August 21, 2020