Obviously the housing market is in a good spot for sellers these days! Low inventory coupled with the low interest rates are leading to fairly quick home sales depending on the price range. I know everyone gets excited when they see what Zillow says their home is worth but even Zillow recommends a local market analysis to avoid over-pricing or under-pricing your home.
Buyers are taking advantage of these low rates but they have to act quickly in order to buy anything under 500k. In many cases, a buyers needs to sell their home in order to buy the home they want. There are strategies to work around this issue, so please give me a call if you would like to discuss.
As of today, there are 30 active listings in Superior, and 20 of those are under contract. If you are curious about the current value of your home, I can provide you with a comparative market analysis at no cost or obligation.
Looking back at 2014
Single family home values increased while inventory decreased
Average sales price for single family homes increased 5.55% compared to 2013. The amount of residential units sold decreased 13.2% from 174 units to 151. Average days on market stayed about the same this past year going from 50 days in 2013 to 53 in 2014.
Attached home values increased significantly and so did the amount of closed units
Average sales price for attached homes increased 23.3% compared to 2013. The amount of attached units sold increased 38.8% from 54 units to 75. Average days on market dropped 33.96% going from 53 days in 2013 to 35 in 2014.
Looking ahead in 2015
I expect home values to continue to increase as the inventory continues to be limited. The demand for entry-level to mid-level homes will be high and homes in good condition will sell quickly.
If you are considering selling your home this year, I encourage you to contact me, for a free consultation to discuss your real estate goals and to determine the value and salability of your home.
Below are a few simple tips that can make the difference between a quick sale and a house that lingers on the market.
Cleaning is a must!
Homes are for living in, but potential buyers may perceive dirt as an indication that your home is not well cared for. Don’t have time for deep cleaning? Hire a cleaning service to give it a thorough once-over. Special attention should be paid to windows and light fixtures–to make the house feel brighter and more cheerful. A quick cleaning before showings can leave a faint smell of furniture polish or cleanser and helps give buyers an impression of cleanliness.
Swap out quirky décor with simple, stylish pieces
You want a buyer to imagine themselves filling the home with their own memories, so limiting personal décor and photos can be helpful. Stashing away eclectic wall art and collectables will create the feeling of space, simplicity and a clean slate.
Create a spacious, clutter-free space
Homes filled with clutter can make rooms feel cramped, small and dark. Take a few minutes to clear piles of mail on the hall table or styling products from the bathroom counter. Select attractive pieces to showcase, like a brightly colored vase or a few coffee table books.
Fresh paint can make all the difference
Paint not only brightens things up but masks old odors, and gives a general feeling of good maintenance and newness. If you can’t paint the whole interior, even a few repainted walls throughout the home will give prospective buyers an impression of freshness.
Bring the light in
Simply turning on a few lamps and opening curtains will make a big difference during a home showing. The house will feel much more inviting to potential buyers.