Which price range is selling fastest?
May 30, 2008 at 9:58 am , by Jenel Looney
This morning, I ran a search for homes that had sold after 30 days or less active on the market here in the MLS areas of GTE and GTW. So far this year, 113 have met those criteria. During this time period, there have been a total of 412 sales, which means that more than 25% of the homes that have sold so far this year have sold after less than a month active on the market!
| Not only that, but those quick sales have been picking up as the months go by. I think that trend is going to continue. The average price per square foot for these homes was $101.40, compared to the average price per square foot of homes that sold after more than a month on the market: $109.16. And the average price of the homes that haven’t sold (i.e., that are still active on the market) is $128.77. Hmm… do we see a correlation between price and speed of sale? It all comes down to motivation. A seller has to really want to sell the house in order to price it aggressively and bring a buyer in quickly. |  |
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The hottest price range is still $100,001-$200,000. Buyers in this range are out shopping in force. Now is an excellent time to sell your home if it’s priced in this range. |
| If you’re curious about what your house is worth, give me a call. I’d be happy to do a comparative market analysis on your home. I really enjoy digging into the numbers, looking at comparable properties, weighing the advantages and disadvantages of each home and coming up with a number at which I believe a house will sell. It’s like a very complicated mathematical puzzle with a strong emotional element, and it’s a lot of fun for me. You can reach me at 512-876-6544. | |
Category Georgetown Real Estate / Tags: /
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