There are numerous statistics that are used to measure the health of the luxury real estate market. However, there is one statistic in particular that provides the most current and clear picture of how the market is performing: the pending listings to new listings ratio.
Why the Pending Listings to New Listings Ratio Matters
It’s crucial to calculate your pending listings to new listings ratio if you want to effectively evaluate how the market is currently performing. Click To Tweet As we all know, there will be times when the market will be great or slow, but it’s nonetheless important to ensure our ratio is outperforming the market.
In particular, I encourage you to calculate your pending listings to new listings ratio on a weekly basis. Calculating and being aware of this ratio can help you differentiate yourself from all the other luxury agents.
Watch this video to learn more about the importance of your pending listings to new listings ratio.
Until next time, make it a great week.