In August 2012, Eastside homes were averaging 50 days on market, that was down from two years before at 88 days on market. If you are considering selling a house, right now is a great time. Inventory in our area is very low and interest rates are also at a record low, buyers are just waiting for the right house to come on market.
And furthermore, let's assume one knows the age of your home, lot size, quality of construction, and amenities, finished basement or not, how many bedrooms and baths etc. etc. hardwood flooring
and sooooo much more, and we would give you a search result of
Average time on market for similar homes was 120 to 200 days..... what would that mean to you?
Would your home sell before 120 days, around 120 days or would it even take a year to sell?
Right..... what really is important in order to sell your home
is having an experienced Realtor do a significant market analysis, comparing your home to those
recently sold in your area and making adjustments up or down depending on the differences in the
homes...... then compare your home to those currently on the market creating your competition and
that competition can change every week of course, with homes selling, going off the market and
new ones coming on......
And time on market could be highly influenced by having not only the right asking price, but also
the perfectly prepared home, does it need some en vogue paint colors on some walls, would a professional stager, rearrange some of your furniture or even remove some to show the home
larger on photos, would your Realtor hire a professional photographer to show your home in its
absolutely best light, on photos on the internet and brochures, and then the creativity of your Realtor in marketing and advertising your property will add to creating excitement around YOUR
property to the real estate community and to the buying public.....
Sit down with an experienced area Realtor if you have not yet contacted one we can make recommendations to you and discuss all angles of the sale of your home with him or her....
Good Luck to you!
Edith YourRealtor4Life & Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties, 30 Green Bay Rd, Winnetka, Illinois 60093 ---- EdithDoesItRight@yahoo.com or EdithSellsHomes@gmail.com Check out my website at htttp://www.tinyurl.com/MeetEdithHere
get to know me better and learn about my experience, expertise, services available and letters of recommendation of former clients..... Also you can sign up on my site to search for properties in my expanded service area. HAVE THE MOST WONDERFUL DAY :)
Of the 33 sold in the last 30 days in that price range,
11 sold in a week or less
9 sold in more than a week, but less than 30 days
9 sold in 30 to 60 days
3 sold in 60 to 90 days and one sold in over 240 days.
I included Bellevue, Kirkland, Redmond, Sammamish, Issaquah...and I threw in Mercer Island for good measure. I didn't go back more than 30 days as the market was a bit brisker from March through July. In fact those closed in the last 30 days actually went into contract In late July through mid-August. Still...the odds are in your favor as to 60 days or less for sure.
I have 2 clients in that price range. One for Bellevue, but house must face North or East and another for Bellevue or Issaquah, depending on whether the price is closer to $800,000 or $900,000. In fact they are cousins as I normally don't take 2 clients who want the same thing, but they asked me to make an exception.
If you email me the address as a heads up I would appreciate it.
It's also important to keep in mind that average days on market isn't always the most useful statistic. We have many homes that are pending within a week, but we also have homes that can sit for 200+ days (especially in the distressed market). Then we add it all together and average it...so, not always a informative number.
The average days on market according to Trendgraphix - a tool that aggregates data from our Northwest Multiple Listing Service - indicates that homes on the Eastside, (no specific neighborhood), between $800-$900K saw an average of 80 days on market in May, June and July of 2012. That average dropped to 34 days on market in August, 2012 as buyers likely were making decisions prior to the school year.
In addition, the number of homes pending (under contract) and sold has increased over these last few months along with seasonal increases in new properties on the market. Months of inventory - another measure of the market - is under 4 months on the Eastside in this price range meaning that if no other homes came on the market, it would take less than 4 months to sell all remaining inventory. That indicates a market that is in favor of sellers.
As far as showings go, it depends on correct positioning and presentation, but as a rule of thumb, if we haven't had an offer after 15-20 showings, we know we need to make some sort of adjustment. We gather feedback from these showings to determine how competitively we are positioned in the market.
I hope this helps!