These numbers reflect the last seven days, from Monday, May 12-Monday, May 19 and are deemed reliable but not guaranteed.
Number of New Listings: 65
Min. List Price: $75,000 (price per sq. foot=$26)
Max List Price: $1,2000,000 (price per sq. foot=$295)
Average List Price: $280,188 (price per sq. foot=$110)
Number of Sold Listings: 17
Min. Sales Price: $105,245 (price per sq. foot=$53)
Max Sales Price: $812,500 (price per sq. foot=$161)
Average Sales Price: $270,641 (price per sq. foot=$96)
Number of Listings Pended: 31
Min.List Price: $99,000 (price per sq. foot=$52)
Max List Price: $487,900 (price per sq. foot=$145)
Average List Price: $207,634 (price per sq. foot=$96)
Number of Expired Listings (rejected by the market): 26
Min. List Price: $149,900 (price per sq. foot=$53
Max List Price: $1,500,000 (price per sq. foot=$313)
Average List Price: $364,684 (price per sq. foot=$125)
Source: mibor.com
What this means, essentially, is that while 65 new homes on the market seems like a lot, 48 homes either sold and closed or pended (meaning they will hopefully close soon). Yes, buyers will get some great deals in the market at this time but, as you can see by the numbers, it's not that far off balance...not like the media leads us to believe.
It is a great time for buyers!
What this means for sellers is that they need to be creative. Offering special incentives for buyers, such as down payment assistance, home warranties, etc could help a seller win in the competition they entered when they put their home on the market.
Another thing sellers need to keep in mind is while they may not net the expected amount on their home for sale, their are deals to be had on the next home they purchase.
Hiring a REALTOR who is very market savvy with great negotiating skills will help with the process. Since sellers are forced to give incentives such as down payment assistance, it's possible for a buyer to come to the table with absolutely no money. This is where the seller who didn't net what they anticipated will win.
For more information, or for a free property analysis, please visit my website at http://www.lisaparrett.com/ or contact me at the information below.
Sincerely,
Lisa Parrett
REALTOR
Keller Williams Realty
317-246-9966
lisaparrett@lisaparrett.com
http://www.lisaparrett.com/
