The year started out pretty dismal, year over year sales were down and the Spring Market never came. Then sales slowly started creeping up and June closed out the quarter with the highest number of monthly sales in 12 months. Momentum continues to build as we near the end of the third quarter; we are seeing a nice sale pace, and there is a healthy number of pending properties in the pipeline:
Single Families
- 4635 Single Families sold year to date, with an average 95 DOM
- 1604 for the QIII; 35% of sales YTD
- 1139 Pending Sales
Condos
- 772 ytd 87% SP/LP
- 241 of them in QIII; 31% Sales YTD
- 242 condos in pending!!!
Multi’s
- 850 yd 92% sp/lp
- 257 QIII; 30% of the sales
- 419 pending
It might be discouraging if you are a seller, but the fact is homes are selling so why isn’t yours? So how do you capture the buyers in this market? Your home had to be priced, staged and marketed better than the competition. Have you ever seen an ad for Mercedes Benz with an out of focus picture of just the gas cap? No, but there are plenty of Realtors marketing homes with horrible pictures. Quality photographs, property videos, stand alone websites are the best ways to showcase your property. If you are better than the competition you will sell, no matter how much inventory and in spite of the headlines.
This Week’s Real Estate Insight
Properties are selling these days, and yours will too if you are determined to sell it. Find a Realtor with great web presence who will market your home the best. The day your property hits the market, it should be staged and sparkling. Inspect before going on the market and address any issues in advance, then make sure you are priced correctly, properties that are not selling have been on the market nearly twice as long as the ones that do. If you hit the ground running with these four points, you will sell your home!
