Welcome, November. It’s the first Saturday of the month which means it’s time to take a look at the Penfield Homes Report for October 2017. If you’re looking to be moved into a new home by the holidays, now is the time! Let’s take a look at how the market is standing:
In the last 30 days, 86 properties were listed with an average sale price of 272K. It’s a slight increase from the number listed in September. Trends are showing that we are headed toward a more balanced market.
Of homes listed in the month of October: 56 have already gone under contract with a median price of 222k. The average days on the market was 16. We anticipate that homes will stay on the market a little longer as a result of the balancing market; now that buyers have more to choose from, they can take more time picking their home!
In the last 30 days, 33 properties have sold with a median closed price of 210k at 100% of the asking price! Which means if you’re looking to sell a home soon, now would be an ideal time to get the most for your money!
As we hit the November market, wonder whether or not selling their home during the holidays is in their best interest. That’s a great question. The answer is “Yes!” The most serious buyers are looking during the holidays and making a plan for the New Year. Many company transfers and hires take place by the end of the year and people will need to find a new nest!
The PenfieldHomes Report this month shows trends of moving toward a more balanced market. However, it’s important to keep in mind that our report only speaks to averages. Location, condition, and pricing all play an important role and can vary from neighborhood to neighborhood. If you have any questions, or you’re curious about your home’s value, contact me today and get a free market value report with no strings attached!