Welcome to the party! That’s my message for the agents that spent the last 6-8 months giving bad advice on pricing. Welcome to where the buyers are.
If you read my blogs, or follow my social media I have been hammering home that buyers are not interested in the “Sellers Market” that most agents felt we were in. As the low inventory created a mindset of “You can ask a higher price”, the actual contracts have been showing that simply thinking your home was worth more was not a great sales technique.
Here’s a refresher from March 2019 where I pointed out that asking prices were slowly coming back to where the buyers are. Make note of the bottom right where sales prices were going up, yet contracts were going down.
At this point in March, these numbers had already shown great signs of improvement, even though they were still moving away from each other telling us that, for the most part, buyers weren’t interested in rising prices.
I pointed out, in February and March, a trend that was showing asking prices coming down (just a little), and as a result more homes were going under contract.
April seems to have found the sweet spot where sellers are being realistic with their pricing, and buyers are willing to jump in and make offers close to, or at, asking price.
In short, homes are selling! Here…take a look…
Notice that the Average Sale Price has settled, and as a result contracts are showing improvement. The asking prices have backed up to a palatable level. Not to say that there is no growth, or that the market is crashing. To the contrary, this is showing steady growth and active buyers. The market is strong!
My point is that over priced homes don’t sell. Well priced homes do…and fast!
Sellers – Be sure that you don’t let false promises lure you into a listing contract. Look very closely at the comparable sales in your neighborhood (within 1 mile and 6 months). Try to separate the emotion from the reality and price accordingly.
HIRE A REALTOR®!!!
Don’t get suckered in to the “Hassle Free” “We buy your house TODAY for top dollar, and you can pick the day you move”…if those guys were really giving you “Market Price”, THEY WOULD GO OUT OF BUSINESS! HAHA. They are in it for profit…that profit should be YOURS! I can show you…call me for a free consultation.
Buyers – Pricing is fair and homes are selling fast! If you are thinking of buying a home, now is the perfect time considering that interest rates are still very low. Give me a call, let me go to work for you. A buyers agent is free to you…yeah…you don’t pay me to represent you, so you have nothing to lose! Let’s get started!
I have an awesome team of professionals in our corner to ensure a smooth transaction.
If you’re not ready yet, we can help you set a plan to get there with free advice and guidance.
I would be honored to earn your trust, your business, and your referrals. Give me a call, let’s get started today! (602) 818-6065 or Kevin@GiantAgent.com