Video Sells!
I did a little research this morning on our local MLS system. I was curious about how much video tours help sell homes in our market.
The Mat-Su Valley has population of roughly 65,000 people. I chose to use a price range of $100,000 to $300,000 for existing, (not new,) single-family homes. That segment is pretty active in our market.
As of this morning we had a total of 442 single-family existing homes in the "Active" status. Of those, 429 had between one and ten photographs posted with the listing. There were 203 with 10 or more photographs.
One hundred of the active listings had virtual tours. Only six had video tours available.
Then I looked at listings in the "Pended" category. Pended means that the seller has accepted an offer but it hasn't closed yet. We had 155 of those. Of the pendings, 128 had one to ten photographs, 60 had more than 10 and 23 had virtual tours. Four of the pended homes had video tours.
The Mat-Su Valley has population of roughly 65,000 people. I chose to use a price range of $100,000 to $300,000 for existing, (not new,) single-family homes. That segment is pretty active in our market.
As of this morning we had a total of 442 single-family existing homes in the "Active" status. Of those, 429 had between one and ten photographs posted with the listing. There were 203 with 10 or more photographs.
One hundred of the active listings had virtual tours. Only six had video tours available.
Then I looked at listings in the "Pended" category. Pended means that the seller has accepted an offer but it hasn't closed yet. We had 155 of those. Of the pendings, 128 had one to ten photographs, 60 had more than 10 and 23 had virtual tours. Four of the pended homes had video tours.
- When we look at percentages, here's the breakout:
- One to ten photographs... Active listings 97%, pending 82.5%
- More than ten photographs... Active listings 46%, pending 39%
- Virtual tours... Active listings 23%, pended listings 15%
- Video Tours... Active listings 1.4%, pended listings 2.5%
The only group with a higher percentage in the pending category are the homes that have video tours!
Most real estate professionals feel that having lots of pictures is very desirable. I think that's the case too. The reason that the data here show that there are fewer in the pending category is probably because some of the homes sold before the agents had time to get the pictures in.
But... it usually takes longer to get a video tour up and running than to put a batch of pictures in the MLS system. I think it's apparent that videos sell houses!
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