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Can online clicks translate into sales?
Zillow doesn't find direct relation between web traffic and speed of sale
When an online picture of a — gold or blue? — dress went viral earlier this year, the item was sold out in no time.
In luxury real estate, however, web traffic doesn’t seem to have a similar impact, according to a new report by Zillow. The online real estate listings service found that a lot of eyeballs on a listing will not make a sale go any faster, the Wall Street Journal reported.
Over the last year, Zillow found 4,300 homes that were sold for $3 million or more around the country. The listings that got the most traffic, a median of 4,218 page views, spent roughly 133 days on the site, the Journal reported. The other listings for $3 million or more had a median of about 552 page views and spent roughly 129 days on the market. (For comparison: a 17-second YouTube video of a sneezing panda has gotten more than 217 million views since 2008.)
Zillow’s most trafficked listing was a 9,500-square-foot Bridgehampton home, according to the newspaper, which got 11,295 views in its first 30 days on the site. The property was sold for $27.5 million in January, after spending 231 days on Zillow. Most of the site’s priciest listings, however, could be found in California. [WSJ] — Claire Moses