Tuesday
October 21, 2014

Open Houses Are Strikingly Underutilized

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Open Houses Are Strikingly Underutilized

Open houses can generate a lot of buyer traffic for a listing, but they are held for only a small fraction of listings. According to a HomeFinder.com study, open houses were held to reach potential buyers for only 6.3 percent of listings nationwide.

Master the Open House

Here are some additional insights from the study:

  • Sunday is the most common day to host an open house.
  • A home is on the market for an average of seven days before holding an open house.
  • Seventy-seven percent of all open houses are held for listings that are single-family homes.
  • The median list price of a home hosting an open house is $339,990.
  • The following top five cities have the most open houses in the country: New York; Los Angeles; Washington, D.C.; Chicago; and Baltimore.

Source: "Open Houses by the Numbers," HomeFinder.com (July 9, 2014)