Tip of the Week: How to know if your market is a buyer's or seller's market20477
Pages:
1
 WGAN ForumFounder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
 Tip of the Week  PMRE 2024 News  Zillow's Market Heat Index  Source: Aryeo Tip of the Week: How to know if your market is a buyer's or seller's market Hi All, To find out if you are in a buyer's or seller's market, use the free Zillow's Market Heat Index. In this example (above), Los Angeles is presently a seller's market. According to ChatGPT 4o: Zillow's Market Heat Index is a metric designed to assess the balance between housing supply and demand in specific markets. It combines three key indicators: 1. User Engagement on Listings: Measures the level of interest potential buyers show in active home listings on Zillow. 2. Share of Listings with Price Cuts: Indicates the proportion of sellers reducing their asking prices, suggesting shifts in market dynamics. 3. Share of Listings Going Pending Within 21 Days: Reflects the speed at which homes transition from active to pending status, highlighting market velocity. The index typically ranges from 0 to 100, with higher values indicating a market favoring sellers. Zillow categorizes the index as follows: ✓ 70 or above: Strong seller's market ✓ 55 to 69: Seller's market ✓ 44 to 55: Neutral market ✓ 28 to 44: Buyer's market ✓ 27 or below: Strong buyer's market As of August 2024, the national housing market was considered neutral, with certain regions exhibiting varying conditions. For instance, Buffalo, Hartford, and San Jose were identified as strong seller's markets, while New Orleans, Miami, and Jacksonville were deemed strong buyer's markets. ZILLOW Is your market a buyer or seller market (and how do you adjust your marketing message based on that? The "Understand your market & value proposition" side (above) is from Aryeo Co-Founder Matt Michalski during his State of the Industry presentation at Photo + Media for Real Estate (PMRE) Conference in Las Vegas on Wednesday, 13 November 2024. Best, Dan P.S Want to see the entire State of the Industry presentation by Matt (as well as all the other PMRE Conference sessions? Watch PMRE 2024 On-Demand. Save $50 with coupon code: WGANSTREAM |
||
| Post 1 • IP flag post | ||
|
WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| Fast Company (26 March 2025) Buyer’s or seller’s market: Zillow’s analysis for over 250 housing markets | ||
| Post 2 • IP flag post | ||
Pages:
1