Market update for June 14, 2024

The Median price of Single Family homes is $445K this week. There were 441 homes sold. The inventory continues to increase by 104 homes, which translates to 3.46 months of inventory. The average days to contract is sitting at 53 days.

Looking at Condos, townhomes and villas there were an additional 108 properties that sold last week. The median price of them is $297K. This is quite a bit higher than where it has been sitting at for awhile. (up from about $250K.)Their list to ask ratio is overall at 97.40%. The inventory is also increasing by this week and the months of inventory is sitting at 7.02 which is much higher than the homes. The average days to contract is 50.

The market is stable heading to a balanced market (between 4 and 6 months of inventory), but officially still in a sellers market for homes and heading to a buyers market for condos, townhomes and villas.

Our Cash and Sell Program is an awesome opportunity for many sellers. Here is one way you can make it work for you.

1. You get a market value cash offer on your home today. No Showing, No Repairs, Seller chooses closing date. Seller will make repairs (seller agrees with them). Buyer puts the home back on the market and when it sells for the second time... YOU as the original seller get the higher proceeds.
2. You get the majority of your equity at the low closing costs.
3. The company does not charge a holding fee, you do not have any more mortgage, utility, taxes or HOA fees during the repair and time for the next closing.
4. At the second closing you get the rest of the proceeds.

We have case studies of how sellers have received over $50K more with this program.




THE DANGERS OF OVERPRICING YOUR HOME --

Our pricing strategy that we go over with every seller, shows that if your home is not priced right with our marketing you will not have showings or offers.But worse than that, you do not get as much money for your home. Here are some interesting statistics from Zillow:

"We found that in the U.S. as a whole, homes that sold more or less as soon as they hit the market had sale prices that were only about 1% below list price, while homes on the market for about 2 months sold at 5% below. And homes listed for the longest amount of time (11 months on average) fared worst, selling at 12% below list price."

Our current market shows this so strongly. A couple of years ago, it did not matter how you priced your home. Today it is critical. And if you don't price homes correctly it costs in TIME AND MONEY. We don't like to see this and that is why we are constantly checking the prices and taking a hard look at the market. I always say, "We can't control the market, but we do operate optimally within it." Today.... price is critical for sellers. Prices are up 5% from last year... but you are not going to get more than the market will bear at this point. However, you may be surprised what market value is for your home... give us a call at 407-566-2555 to check it out.