Even in a hot market, not every listing sells: some listings viewed as overpriced end up expiring or being withdrawn. However, the ratio of expired and withdrawn listings to sales declines significantly in a strong market, which is what happened last year. Typically, the fourth quarter is marked by a very high rate of expired and withdrawn listings due to the holiday season and end of the year, but in the last quarter of 2012, buyers continued to aggressively snap up listings.
And this chart goes to a days-on-market chart illustrating the increasing speed with which buyers are snapping up listings:
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Simone Koga | Paragon Real Estate Group
1400 Van Ness Ave. | San Francisco, CA 94109
415.706.1586 | Simone@SimoneKoga.com