This is a very good question that recently came from a reader. Let’s see if our Stammtisch can help her out. If you don’t know the answer, maybe someone next to you does. If we get stumped, we’ll find someone who can help.
“Hi,
I saw your blog and have a question for the experts…
What is their opinion when they see new developments start listing properties on the MLS? Is this a general sign of weakness in sales?
For instance, I noticed 310 Townsend has quite a few listings on MLS and it seemed to coincide with their reduction in price and incentives.
Likewise, the Berry street properties and King St. properties in Mission Bay area also have quite a few listings on MLS and word seems to be that they are having a hard time moving their last batch of inventory…
Now I noticed the Radiance, the new property on the other side of Mission Bay… at first word was there were lots of reservations, etc but now they have a listing on MLS…. I’m wondering if that means they may start offering incentives etc.
Or maybe developers just naturally list inventory on MLS since it would reach the most people? If so, then why do they not list inventory when they first release.
Thanks,
T”
Please submit your answers in the form of a “comment”. Any solicitations for business will be quickly deleted. ;-)
Thanks for asking T, and thanks in advance to any and all people that help you out.