Are Some Newly Listed Properties Already Under Contract When Listed For Sale?


Are Some Newly Listed Properties Already Under Contract When Listed For Sale?
By Scott Rogers • June 2, 2020
A question from a reader... "I have noticed several properties that sold within 3 to 10 days. The quick selling properties appeared attractive in the photos on their websites and the asking prices seemed realistic. I heard a rumor that some of these properties were already sold before they were even listed...that the listing/offering was a formality." I have only very occasionally found that to be true. From time to time, a property will be entered into the MLS as a new listing and then will be immediately marked under contract. This will often be accompanied by language in the remarks (public remarks or internal agent remarks) to indicate that the listing was "entered for comp purposes" or "sold on a one time showing." This language would, indeed, indicate that the property in question was already under contract when it was listed for sale -- but I'm not seeing that very often in our local market. More often than this, I am seeing a new listing that goes under contract quickly that often... has been prepared quite well for the market has excellent photography that shows the house well has a realist asking price These new listings that go under contract within just a few days are almost always NOT already under contract when they hit the market -- but because they are prepared well, priced well and marketed well -- they go under contract very quickly in this current market with very few homes for sale. So, no, I don't think very many homes are already under contract (or sold) before they come on the market - though it might feel that way sometimes with how quickly homes are going under contract! Receive Updates by Email Recent Articles: Monthly Housing Costs Over Time, Plus Adjusted For Inflation I Would Like To Buy A New (To Me) Home But Would Need To Sell My House In Order To Do So. Is This Possible? I Hope To Buy A Home Soon And Want To Better Understand The Process And The Market I Plan To Sell My House Soon And Want To Better Understand The Market In My Neighborhood And Price Range Year End Recap Shows 12% Increase In Home Sales, 5% Higher Sales Prices In Harrisonburg, Rockingham County Will 2025 Be A Good Year To Sell Your House? Very Few Building Lots Are Available For Sale For Custom Homes In Our Area More And More Homes That Are Selling Are New Homes My Predictions For The 2025 Real Estate Market In Harrisonburg, Rockingham County Reviewing My Predictions From Last Year For The 2024 Real Estate Market
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Jan 20, 2025 (unless otherwise noted).
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