Your home is your most valuable asset!
Understanding its value and how it fits into the market trends is a great idea. Let’s take a peek at recent numbers:
Currently there are 173 properties listed for sale ranging from 18k to 1.3 million making the average sale price 283K. (Wow, that’s quite a range!)
Of homes that were listed in the last 60 Days, 41 properties have gone under contract with an average of 12 days on the market and an average sale price of 203K.
In the last 60 days, 71 have sold at 97% of their asking price with the most popular range between 160kand 180k. The average sale price is up 6% from June!
What do these numbers mean to you?
12 days on the market is actually a very short time considering that homes do not appear as under contract until the contract has been approved by attorneys and the home inspection has been completed and negotiated. If you’re buying a home, make sure your finances are in order, your must- haves are set, and you’ve researched the area you want to live in before you look at the first home. With your homework done, you’ll be ready to right an offer if you need to.
The fact that properties have been sold at 97% of the asking price indicates that buyers are in agreement with value or that because of lower inventory at some price points, multiple offers have led buyers to meet the seller’s price. If you are selling a home, understand that location and condition also play an important factor. Need a little boost to give a fresh new look to your home? Staging can help! And, believe it or not, one of the hottest spots in homes right now is actually outdoor living spaces!
If you are looking to learn more about living in Penfield, or if you are a current resident and want to understand how your home fits into the current market, we are happy to provide that information. Contact us today!Read More