‘Tis the season to be jolly, fa-la-la-la-la-la-la-la.
This is such a fun time to be in the real estate business in Milton! I say that because homeowners now, almost more than ever, need a local expert who knows what is really going on in the market in order to maximize the value that they have in their house.
What you as a homeowner do not need is someone who wants to make themselves look good by listing the house too low and hoping for multiple offers. Sure, multiple offers can be a good thing. However, they can also be a not-good thing. Might you want to know why pricing low is not necessarily in your best interests? Call me and we’ll sit down together and talk about it.
Meanwhile, here’s this week’s Total Market Overview:
I think of my friends in real estate in the USA, and how they would love to have a market where 25% of the available inventory sells in a week; yes, we are blessed indeed. And yet, even though real estate agents are negotiating record high prices for sellers, and even though a seller listed with an agent will net approximately $10,000 more than when they sell privately, I still see all these private sellers out there. I guess they haven’t been introduced to the idea that they can make more money by listing their house with an agent, and avoid most of the hassles and time-wasting at the same time.
Here’s the Annual Summary Table – scroll up and compare this week and the same week last year:
25% of the available listing inventory compared to last year; 3-times the number of sales compared to last year. Same song as the last few months. Where will it go from here?
Here’s the same information in a graph:
And here’s the Absorption Rate information:
So, based on the information above, if no other homes come on the market, there will be no homes left for sale in a mere 4 weeks! Anytime that number is less than 20 weeks, we are in a Seller’s market; when it is more than 28 weeks, we are in a Buyer’s market.
Here’s the Absorption Rate in a graph:
