Even with the deep freeze across much of the country and Punxsatawney Phil predicting a longer winter, prospective home buyers and sellers are very active and looking forward to spring.
All stats below are based on End of Month in December vs January:
Homes on the market – 3,634 vs 3,092 (down 15%)
Average sales price: $352,285
New homes on the market – 2,856 vs 3,542 (up 24%)
Homes sold – 4,195 vs 2,940 (down 30%)
It is an extremely competitive seller’s market right now. Buyers will typically swing and miss a couple times before going under contract. Due Diligence fees are having to come in much higher than they were originally. The market really ramped up at the end of January due to fear of interest rates rising. Therefore, there are many more buyers than sellers. It is the perfect time to list your home.
What if I’m a seller?
Even in such a strong seller’s market it’s still very important to price your home properly. If you’re overpriced, your house may sit on the market for a long time. Having a pre-inspection before listing, and taking care of any issues that come up in that, can go a long way for getting better offers with waived inspections. There’s less hassle and risk once you’re actually under contract.
Here are a few blogs that might help you as a seller:
What if I’m a buyer?
Plan to offer more terms than just a good price. Those could be: waived inspection, extra down payment in case of a low appraisal, and making your earnest money non-refundable. All of these things can all help you be the winning offer in a seller’s market where multiple offers per house are definitely the norm.
Here are a few blogs that might help you as a buyer:
And always remember, if you buy with us, we split our buyer’s agent commission with you and give you back up to $6,000, and if you sell with us, we give you comprehensive, expert service for a low flat fee. And if you plan to move or have friends in other states, Trelora is now open in Atlanta, Charleston, Charlotte, St. Louis and Tucson (of course, along with Denver, Phoenix, Raleigh and Seattle). In the meantime, please stay healthy and safe.
Trelora – Raleigh