The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand remains strong going into the winter. Many real estate professionals are reporting that multiple offers are occurring regularly and listings are actually selling above listing price. What about your house?
If your house hasn’t sold, it is probably the price.
If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. (See Chart)
The housing market is hot. If you are not seeing the results you want, sit down with your agent and revisit the pricing conversation.
If you're curious about your home's market value, use our free Comparative Market Analysis tool! You'll get an instant home evaluation and even a free in-person assessment provided by one of our agents at your leisure.
Thanks to our friends at KCM for the awesome market information!