What Do Appointments Say About The Market?
With the market changing so rapidly due to COVID-19 and the fact that the market stats program I use takes a few weeks to compile the monthly data, today I’m going to look at some stats that are more up to date - appointment setting. These stats, through the MLS, are complied in real time.
Scheduled Appointments per Average Listing:
Two things jump out right away:
- The average number of appointments per listing dropped almost in half from mid-March, when residents were told to stay at home, until now.
- The past three weeks has been steady with 3-4 showings per week per listing. This seems to be the new normal for the time being.
The actual number of appointments is most likely higher as these stats only include appointments that agents made online versus calling the listing agent directly. In addition, these stats don’t include a listing agent showing their own listing because they don’t need to make an appointment online. They can contact the sellers directly if they need to schedule with them.
Total Agents Scheduling Appointments
Not surprising, this chart matches up with the previous chart. About half as many agents are making appointments to show properties. Some just aren’t doing showings period; others just don’t have a buyer to show.
There is still much pent up demand for housing in Arlington. Some buyers are holding off now due to COVID-19 and some sellers are also holding off. The result being the buyers on the market today are serious buyers and places are still selling.