Here are a few bullet points to bring you up-to-date on the Spring market:
- Inventory remains low (123 active listings as of today)
- Number of pending sales almost equals active listings (111 pending listings as of today)
- Inventory is down 10% from last year at this time
- The median sale price is up 10% over last year
What does this mean for you?
Sellers: This year is an excellent time to sell. Take a close look at the latest comparable sales and competition in your price range before going on the market. Spend some money to get your home looking its best and make sure to stage it (minimize to the maximum and de-personalize). Don't overshoot the market but price in a range where you're sure to create urgency. Hopefully you'll find a buyer within the first 30 days because after that buyers tend to wonder if something is wrong. If you priced too high, reduce after 2 weeks on the market and every 2 weeks thereafter.
Buyers: It's a seller's market, but if you're careful, you'll find a good buy in today's market. Get out and look at everything for sale in your price range. Get familiar with what homes are selling for, too, so that when the time comes for you to make an offer, you'll be confident. If you see something you like, don't get caught up in "analysis-paralysis" because you may miss out.
Here are a few other tips:
- Don't ask Zillow, Redfin or Realtor.com to price your home. They'll simply sell your personal information to the highest bidder. Are you interested in working with a Broker that "buys leads" from an online vendor? Get a referral from a friend or family member, instead. Go with someone you know and trust. Go with someone that has a proven track record.
- Get professional photos. With today's technology, you want to represent you home in its best light.
- Be sure to take the time to minimize and de-personalize your home to the point where it seems nobody is living in the home. Today's buyers respond positively to a well staged home.
For other tips and helpful advice, get in touch with me and we'll go over your specific situation.
Thanks for your continued support,