Westchester, CA Single Family Residence : Under Contract Statistics…
Westchester, CA Single Family Residencial Real Estate: “Under Contract Statistics”
I have found that over time there is always a larger focus on Active listings that are on the market. People focus on the asking price, the number of them on the market. Although they are important numbers they do not tell the real story. Let’s be realistic: Sellers can ask all they want and will find agents that are willing to list it for them.
Then of course the other number most people focus on is the Sold Statistics. Clearly valuable information the combination of the two you get a good idea how the market is doing.
One of the least analyzed or viewed numbers are the “Under Contract Statistics”. These are the homes that are Pending or Accepting Backup Offers. To me these are the critical numbers that complete the whole picture how a particular market is doing.
If you see a lot of properties under contract with fewer active listings and lots of sold listings, that lets you know that it is a fast moving sellers market. Then when you dig deeper you will discover that the “Listings on Market time” is clearly very short. Hence if you are a buyer you can plan and strategize how to proceed with submitting an offer. Anyway you get the idea.
Now with that said let us look at the Westchester, CA Single Family Residences Statistics that are “Under Contract”:
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