PENDINGS VS. ACTIVES...The number of homes that went pending (aka "under
contract) during the past 30 days, is a great indication of what the current monthly demand is for homes in your neighborhood. For example, if your neighborhood currently has two homes that went Pending in the past 30 days, then two is the monthly demand in your neighborhood.
A savvy agent and seller will put this information into perspective by comparing this monthly demand to the number of Active listings (the supply). For instance, if your neighborhood has twenty Actives and two homes have gone Pending during the past 30 days, then it's reasonable to assume that only the top 10%, in terms of best overall value, will sell this coming month.
Stage and price your home with this statistic in mind to ensure that you reach your goals within your ideal timeframe. And, continue to revisit this statistic while your home is on the market to find out if your neighborhood is becoming more or less competitive.