Summer has arrived…finally! Although green lawns, colorful flower beds and blue skies tend to support the busiest selling market time, often we can experience slower periods within the summer months for various reasons. Summertime schedules fill quickly with vacations, weddings, camps and graduations taking calendar space and demanding priority over home searches. Still, homes within certain price points, in proper condition and aggressively priced are selling (some within weeks of being listed), despite summertime busyness that can detract from showings. If you want to be “SOLD” and not just “Listed”, here are a few key things that the current market is revealing:
Ø 58% of the homes that are selling are doing so within the first 90 days on the market. Pricing it right from the beginning and quickly adjusting to current market standard is key to maximizing your bottom line.
Ø Buyers are concerned about possible rising interest rates. When a new property enters the market or an adjustment to price is made, buyers are jumping on that property. About 30% of our homes are generating multiple offers - this happens within 2 weeks of entering the market, or right after a seller adjusts price.
Ø Each home is in direct competition with other homes on the market. As a seller you should have the mindset of wanting to put the other listings in your area “out of business.” Each home is in a pricing war and beauty contest.
As your Realtor, I do not create the market. My job is to interpret the market, know market pricing, and show you how to get your home SOLD. I hope this information is helpful - as always, feel free to contact me with any questions.