May 2016 - Why are home selling quickly?
Across North County many zips are seeing detached homes going on the MLS for ten days or less in almost 50% of the transactions. Now a number of these are where agents take a home off the MLS as it has become “stale” sitting probably at too high a price but once lowered these seem to sell like hot cakes. Now we are well aware that it can be counter-productive for a seller to pitch their home too high and these can get”stale” and require a significant price reduction to move them. Then of course you can be too low securing multiple offers and it sold in a few days. A home owner may be pleased with such an easy sale and of course the agent is over them moon having avoided months of work and costly marketing and maybe hitting the jackpot securing the buyer as well and pocketing 6% in fees. So how do we approach this. We believe we maximize your home price sale by performing the most comprehensive “comps” you are likely ever to see from an agent. Only this way can we price your home possibly 2-3% above what other agents may secure. On top of this as we charge a fraction of the normal fees (nothing like 5-6%!) you may well get a double bonus of the price you need and fees that a truly affordable. This is why our many clients say we gave them the best real estate experience they ever had.
We are leaving our post from March below as it contains some crucial data on home price trends plus illustrates the depth of detail we go into to understand how best to price your home.
We breakdown the price trend history by home size in sq feet ranges. These are all detached homes.
1500-2000 peaked in 2005 at $381 sq ft and it took until the Fall of 2015 to recover this price and it climbed to a record high this past quarter at $415 a sq. ft. Th average price was $720K for a home with an average of 1,1717 sq.ft.
2001-2500 peaked in 2005 at $351 sq. ft. and recovered back to a similar price at $354 a sq. ft. in the Fall 2015 but fell back slightly at the end of the year before reaching a new record high this past quarter at $359 sq. ft. for a home of average size 2,228 and priced at $797K.
2501-3000 peaked in 2005 at $329 sq. ft. and recovered this price in the 3Q 2015 at $329 only to fall back at the end of 2015 to $314 and slipped again to $306 this past quarter where the average home size in this range was 2,762 selling for $844K.
3001-3500 peaked in 2005 at $308 sq. ft. and recovered last year in the 4Q to $316 sq. ft. but last quarter fell back to $301. The average home size for this price in 1Q 2016 was 3,265 and the average home price was $981K
For further analysis of the rest of the home sizes price range email Joanne at email@example.com
If you want to see detailed data on how fast homes are selling in your area and much more do call Joanne 760-855-5541. Buying or selling we can save you a small fortune and still receive what our clients say was the best real estate experience they have ever had. Where on the planet can you save money and get something more? Here – 760-438-1000.