corelation between # of people saving a listing and probability of it selling

kinda obvious that the more people are interested in one property the higher the chance the property will be sold no?

yes, but I'm wondering if there is a "magic number" of saved users before it sells.

Good question. That data would be a great foundation for some predictive analysis and for sellers and brokers to gauge interest on a particular property. Yet another cool benefit of streeteasy.

Not necessarily (BTW, correlation is spelled "rr"). I've saved a number of listings, not because I'm interested in buying them, but because they provide useful comp data for explaining the offer I plan to make on another apartment in the coming weeks.

apologies on the spelling, it happens.

I think even if you are saving the unit as a property to compare others too, or if you're just curious as to what a unit eventually sells for, there has to be something to the saved properties number.

I've noticed that the 3 properties out of the 20 I have saved, have gotten many more "saves" over the past few weeks, which is making me think two things. 1) more people are dipping their toes in the water to see what's available or 2) there the price range that I am looking in, is actually picking up.

**note, my price range is 500-700K for a 1 bedroom in decent condition.

It may also be that case that folks are saving listings just because others are.

why would anyone save a listing because someone else does? That makes no sense.

You're right-- it doesn't make sense. Chalk it up to the herd instinct: "If others are interested in this listing it must be worth saving."

There may be some correlation, but it seems weak at best. Of my "in contract" ones, the number of users saving each is 28, 6, 8 and 14. On the other hand, there is a 20 and a 19 among my ones that are sitting with no buyers. I just went through my first 20, would take too long to go through all of them.

229 may be on to something, it is irrelevant if many other users save the same apt for non purchasing reasons. Once a statistical relevant number is reached from the sample, the additional saves become superfluous and have no impact on the conclusion. They effectively get lost in the wash. Good thought 229, keep thinking outside keypad.

"If others are interested in this listing it must be worth saving."

huh?

This is fascinating; I wouldn't think you can correlate anything to the sheer number of saves. Streeteasy is so easy to use, you don't really need to save the actual results of a search, unless you are watching to see when they do sell, but then there is usually some talk about the notable ones anyway. (Thanks to everyone for good information!) I don't know why streeteasy shows that tally, other than community service.

How about if streeteasy shows the rate of price cuts to quantitatively show just how listings are dropping like proverbial rocks, or not so? I assume most buyers are waiting for additional cuts, as we are reading about more and more worldwide job layoffs.

In looking at the ones I have saved, I notice a bit of correlation between # of saves and those that have been on the market a while and slowly lowering prices.

rookie question: where do you see a listing of how many others have saved what you have saved?

Right unde where the "Save" button is you see something like:
"This sale has been saved by 7 users."

Interesting topic from, as stated, a predictive statistics standpoint. One other possibility is that STREETEASY is becoming a more powerful clearinghouse of information and as more users adapt to the technology, the numbers will rise among all properties a bit. In essence, STREETEASY usage is rising.