94% did NOT go under contract. What does this mean? #SarasotaCountyRealEstate

Transcript...

How does it make you feel to hear that only six percent of all of the listings in Sarasota County in the last week actually went under contract?
I’m Steve Martin Smith, and this is your weekly market update.
At this moment, there are 3,331 active listings. When you look at the numbers above my head here, you see that 209 went pending in the last seven days. So that number is 6%, which also means that 94% of the people trying to sell their house didn’t get it under contract last week. So as a buyer, realize that we are absolutely full blown back into the land of negotiation. This is how real estate had been done for a long, long time before 2020, and it is how it is being done again today. When you look at a list price, you do not need to ask if they are negotiable. If they want to sell their house, oh, they’re negotiable. That’s just the way it is, it is the market we are in.