Home sellers should keep an eye on the number of potential buyers who have ‘favorited’ their home on Zillow
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Home sellers should keep an eye on the number of potential buyers who have ‘favorited’ their home on Zillow.
The firm says that those that receive 30 or more favorites within the first week of listing typically sell in less than two weeks and 40% of those do above list price.
That compares with homes that get 10 or fewer favorites, which tend to sell for less money and take over a month to sell on average.
"When shoppers favorite a home on Zillow, they may be in the active home-shopping process and not just casually browsing," said Zillow Chief Economist Dr. Svenja Gudell. "Homes with built-up favorites often denote desirable homes in popular locations– a sure indicator that you're not the only one eyeing the home of your dreams."
Homes in hot markets such as San Jose, San Francisco, Seattle and Portland are among the most favorited within the first week on the market.
In San Jose that's typically 17 favorites with the home selling in just 12 days, two thirds of these for above asking price. Some homes in Seattle get up to 40 favorites in the first week and seven just seven days with 75% selling over the asking price.
The firm says that those that receive 30 or more favorites within the first week of listing typically sell in less than two weeks and 40% of those do above list price.
That compares with homes that get 10 or fewer favorites, which tend to sell for less money and take over a month to sell on average.
"When shoppers favorite a home on Zillow, they may be in the active home-shopping process and not just casually browsing," said Zillow Chief Economist Dr. Svenja Gudell. "Homes with built-up favorites often denote desirable homes in popular locations– a sure indicator that you're not the only one eyeing the home of your dreams."
Homes in hot markets such as San Jose, San Francisco, Seattle and Portland are among the most favorited within the first week on the market.
In San Jose that's typically 17 favorites with the home selling in just 12 days, two thirds of these for above asking price. Some homes in Seattle get up to 40 favorites in the first week and seven just seven days with 75% selling over the asking price.
