How Many Showings Should It Take To Sell A Silicon Valley House In Today’s Market?

Door of home on Ayer Drive in Vendome district of Downtown San Jose

“How long will it take to sell my home?” This is a perennial question among home sellers in Silicon Valley. Real estate professionals can look at the statistics and, when experienced and active in your local market, tell you what they believe will happen based on the absorption rate and days on market numbers.

We know that the national average is that for approximately every ten showings, a home should get an offer. It may or may not be an offer that results in a sale. Today’s market in much of the San Jose area is a little more sluggish than usual, but homes are still selling in many areas within a month if all is right when it’s offered for sale. One thing is for certain, though, and that’s that sellers have to see offers to be able to sell a home, and there are no offers if there’s no qualified traffic.

What kind of traffic is good enough? Three showings a week is decent after the initial flurry of a new listing. There will be more visitors to your property in the first week or two, both in regular showings and in open house visitors who are serious about buying. If you are not getting three showings a week (and it’s not a major holiday, a heat wave, pouring rain, or something along those lines), you have a problem. There are three most likely culprits to the problem: price, condition, and marketing.

The feedback from showings and open house visitors is of key importance and will help you and your agent to understand the public’s reaction to your price and condition. Agents can ask (without being pushy) questions about how the buyers think or feel about the home. Or ask their agents. (I use a system called HomeFeedback.com that requests feedback by email with a very short 5 question survey. Normally I get about a 65% response rate from agents.) When most of the consumers or agents tell us “the home is dated” or “it needs too much work”, we know it’s an issue. Or perhaps the home is turnkey, but is priced 10% too high. Sometimes the condition issue is fixable but sometimes the only way to address it is in lower, more attractive pricing (when huge renovations appear to be necessary or there’s a time or money issue for the seller).

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