Like Ants At A Picnic

Like Ants At A Picnic

I was just catching up with one of my top agents on some of the dynamics of the Westport market. Every November and December the market becomes cyclical from an inventory standpoint. Much of the inventory that is available on the market has been “picked through” by buyers.  Three components are needed for a house to be perceived positively in the market: Proper/aggressive pricing, good or excellent location and good condition. When these three components do not align, listings experience resistance resulting extended marketing time and multiple reductions. Even more extreme, some overpriced properties that are so far out of range, simply become invisible to the market.

However, when a well-priced, well-condition home in a great location comes on the market, we see an immediate reaction. Just like ants at a good picnic, the buyers converge in an almost frenzied state and we see multiple offers. Quality inventory is definitely still desirable and sells quickly. I thought the “ants at a picnic” analogy from Jon Deak was clever and an accurate reflection of the well-positioned listings that hit the market.

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