A logical extension of the previous bar chart showing reduced time on the market is a corresponding increase in median sales price. The same increased demand that leads to homes being purchased sooner means that demand is up…as demand increases so does competition for the best deals. Competition equals multiple offers (in the entry level price range) and multiple offers drive up price. As this chart shows, the median price for a home in December rose nearly $20,000 over the preceding 3 months - to approximately $270,000.
In September I listed a 3 bedroom, 2 bath home on Ceres Avenue for $215,000. Within two weeks we had three offers. The competition among buyers drove the price up to what the market would bear - $222,000 with $1,500 in seller concessions. The home closed in app. 45 days.
If you’re considering selling your home allow me to assist you with a pricing and marketing strategy that will get you the best possible price for your home. If you’re looking to buy let me help you get the jump on the competition by providing you with immediate information on newly listed homes the moment they become available.
In September I listed a 3 bedroom, 2 bath home on Ceres Avenue for $215,000. Within two weeks we had three offers. The competition among buyers drove the price up to what the market would bear - $222,000 with $1,500 in seller concessions. The home closed in app. 45 days.
If you’re considering selling your home allow me to assist you with a pricing and marketing strategy that will get you the best possible price for your home. If you’re looking to buy let me help you get the jump on the competition by providing you with immediate information on newly listed homes the moment they become available.
No comments:
Post a Comment