Today, I just wanted to share some interesting statistics hot off the press. I just got the year-to-date stats for up until the end of November.
What an absolutely phenomenal year in real estate it has been. The biggest challenge that we have is the amount of inventory for sale in the market. On that note, if you’re thinking of selling your home, please reach out to us because we do have buyers in all price ranges available and interested in purchasing homes.
Year to date, we had over 22,000 homes enter the market, which is a bump of about 5% over last year. During that same time, we’ve had a bump of over 1,000 properties, up to about 17,000 properties come on the market and sell. This means over 5,000 properties still didn’t sell. That said, it’s important to know that you have an agent who’s on your side helping you price it properly—one who has the buyers and will help you market and negotiate it properly.
How long does it take for an average home to sell? The average home takes about 60 days to sell. Something I’m very proud of is that my team and I are able to sell a home, on average, in about 32 days. You’ll sell a little bit faster with us because we spend extra money on marketing and really trying to put your home out there. Not to mention we’re already hunting buyers before you ever call us. We have a database of buyers available before you pick up the phone and call us.
Last but not least, how much have prices gone up? It depends on whether you’re in the first-time homebuyer range or you own a luxury home. On average, prices this year have gone up about 4% to 5%. If you have a $250,000 or $300,000 home, your house values increased somewhere around $10,000 or $15,000 this past year, which is great news.
If you want to know what your home specifically is worth, feel free to reach out to us for no cost and no obligation. We would be happy to walk with you through that analysis.