What does the ShowingTime Showing Index tell us about buyer activity in 2023?

The ShowingTime Showing Index measures how frequently buyers are touring homes. While showing traffic has dipped since the 'unicorn' years of historically low rates and peak demand, 2023 still shows more buyer activity than the last normal market years of 2018–2019, indicating sustained buyer interest despite higher mortgage rates.

How many offers are sellers typically receiving on their homes right now?

According to the latest National Association of Realtors data, sellers are receiving an average of 2.5 offers on their homes. While this is lower than the 'unicorn' years, it's higher than pre-unicorn normal market years and slightly up compared to last year.

How fast are homes selling in the current market?

Homes priced appropriately are selling quickly due to low inventory and strong buyer demand. According to NAR data, the median days on market in 2023 is only slightly longer than during the peak 'unicorn' years and significantly faster than the normal pre-unicorn years of 2018–2019.

Has buyer demand really disappeared with higher mortgage rates?

No. While mortgage rate increases have tempered the frenzy of the 'unicorn' years, buyer demand remains high compared to historical norms. Multiple metrics—showing traffic, offer volume, and days on market—all demonstrate that plenty of interested buyers are still actively making moves in the market.

Why Now Is Still a Great Time To Sell Your House

By Anne-Britt OstlundDecember 14, 20234 min read

Real Estate Market Updates

If you were worried buyer demand disappeared when mortgage rates went up, the data shows there are plenty of interested buyers still out there. The housing market isn’t as frenzied as it was during the ‘unicorn’ years when buyer demand was through the roof, mortgage rates were historically low, and home values rose like we’ve never seen before. But that doesn’t mean the market is at a standstill.

Nationally, demand is still high compared to the last normal years in the housing market and plenty of buyers are making moves right now. Here’s the data to prove it.

Showing Traffic Is Up

The ShowingTime Showing Index is a measure of how frequently buyers are touring homes. The graph below uses that index to show buyer activity over the past eight Octobers:

In the graph, the ‘unicorn’ years are shown in pink. You can see demand has dipped some since then. That’s in response to higher mortgage rates. But, when you compare 2023 to the blue bars on the left that represent the last normal years in the market (2018-2019), you can tell buyers are still more active than the norm.

But showing traffic isn’t the only way to see buyer demand is still high. The number of offers other sellers are getting and the average days homes are on the market tell the same story.

Sellers Are Still Seeing Multiple Offers

According to the latest data from the National Association of Realtors (NAR), sellers are receiving an average of 2.5 offers on their houses. Let’s look at how that compares to recent years (see graph below):

It’s true that’s fewer than the number of offers sellers were receiving during the ‘unicorn’ years (shown in pink). But compared to last year, the number is up slightly. And it’s higher than it was in the more normal, pre-‘unicorn’ years in the housing market too.

Homes Priced Right Are Selling Fast

And it’s not just that sellers are still typically getting multiple offers more than the norm, they’re also seeing their homes sell fast. That’s a direct result of strong buyer demand. According to Zillow:

“. . . low inventory levels are spurring surprisingly strong competition . . . demand has remained resilient, and attractive, appropriately priced listings are moving quickly.”

To help showcase that homes for sale are still going quickly, let’s look at data from NAR on the median days on market for this same time of year from 2018 through now (see graph below):

As the graph shows, this year homes are sitting on the market only slightly longer than they were during the frenzy of the ‘unicorn’ years. And compared to the last normal years in the market, homes are still selling much faster than they did back then. That’s good news for sellers because it means there are eager buyers out there right now.

Bottom Line

You haven't missed your chance to sell at a time when sellers are receiving multiple offers, and homes are selling fast. When you’re ready to sell your house, connect with a local real estate agent to get the ball rolling.

Thank you for joining us on this insightful journey into the dynamic Telluride real estate market. If you're considering selling your property and want to capitalize on the current seller's market, look no further than Mountain Rose Realty.

Led by the highly skilled and experienced Anne-Britt Ostlund, Mountain Rose Realty is your trusted partner for navigating the Telluride real estate landscape. With a track record of success and a commitment to client satisfaction, Anne-Britt and her team understand the nuances of the market and are dedicated to securing the best possible outcome for your property.

Don't let this opportune moment pass you by – with Telluride homes for sale in high demand, now is the time to make your move. Partnering with a local real estate agent is the key to a seamless and successful selling experience. Reach out to Anne-Britt Ostlund and the Mountain Rose Realty team to get the ball rolling on selling your Telluride home.

Whether you're a seasoned seller or a first-time homeowner looking to make a move, Mountain Rose Realty is here to guide you through the process. Explore our comprehensive services and tap into our expertise to ensure a smooth and profitable real estate journey.

Take the first step towards unlocking the full potential of your Telluride property. Contact Anne-Britt Ostlund at Mountain Rose Realty today and discover the unparalleled service that sets us apart in the Telluride real estate market.

Your dream sale is just a click or a call away. Trust Mountain Rose Realty for Telluride homes for sale and homes for sale in Telluride, CO. Don't miss out on the chance to turn your property into a success story in this thriving market.

Frequently Asked Questions

What does the ShowingTime Showing Index tell us about buyer activity in 2023?: The ShowingTime Showing Index measures how frequently buyers are touring homes. While showing traffic has dipped since the 'unicorn' years of historically low rates and peak demand, 2023 still shows more buyer activity than the last normal market years of 2018–2019, indicating sustained buyer interest despite higher mortgage rates.
How many offers are sellers typically receiving on their homes right now?: According to the latest National Association of Realtors data, sellers are receiving an average of 2.5 offers on their homes. While this is lower than the 'unicorn' years, it's higher than pre-unicorn normal market years and slightly up compared to last year.
How fast are homes selling in the current market?: Homes priced appropriately are selling quickly due to low inventory and strong buyer demand. According to NAR data, the median days on market in 2023 is only slightly longer than during the peak 'unicorn' years and significantly faster than the normal pre-unicorn years of 2018–2019.
Has buyer demand really disappeared with higher mortgage rates?: No. While mortgage rate increases have tempered the frenzy of the 'unicorn' years, buyer demand remains high compared to historical norms. Multiple metrics—showing traffic, offer volume, and days on market—all demonstrate that plenty of interested buyers are still actively making moves in the market.