Home Selling in 06067>Question Details

Robin, Home Seller in Rocky Hill, NJ

I have a high end home in Rocky Hill, Ct. (730K) How has the current market effected this type of home?

Asked by Robin, Rocky Hill, NJ Wed Apr 23, 2008

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The higher end homes always take a bit longer to sell. Rocky hill is a nice area, but you may need to wait it out while. the key is to price it right, keep it clean and ready to sell. Trying to run around the house and clean up right before a showing appointemnt always looks just that way. Get clean, stay clean, show well, price right.
Web Reference: http://www.ilmct.com
0 votes Thank Flag Link Mon Apr 28, 2008
I wrote a post on my blog earlier this month about the state of the market in Rocky Hill - I attached a link below. Overall, Rocky Hill has about 8 months of inventory on the market - meaning if you put your home on the market today, it would take about 8 months to sell. Now, that is just an average of homes that are priced well and too high so take it with a grain of salt.

With that said, if I were you, I would only sell if I had to, had enough equity to not feel the loss or if I were looking to upgrade (where you could potentially pick up a higher value home for less and be in a better financial position in the next round of price increases).
0 votes Thank Flag Link Wed Apr 23, 2008
Hi Robin,
The market for higher priced homes is always a little slower than more moderately priced ones. How much you ultimately can get for yours depends on a lot of factors. Your price vs.Current competition, exposure to the correct target market, recent sales, the neighborhood, condition, and your motivation for selling, just to name a few.
In Rocky Hill, there are currently 7 homes listed over $500k. There are 3 under contract in that same price range. In the last 6 months, only 2 have closed (average sale price per sq/ft was $194). 1 Year ago the same 6 month period saw 5 closings (average sale price per sq/ft was $201). What all this tells us is that the market has been slow in that price range, but is picking up momentum. If you would like a detailed analysis of your home, please feel free to contact me. I would prefer to discuss numbers specific to your home rather than just generalities. At that point, you can make an educated decision on whether or not this is the right time for you to sell.
0 votes Thank Flag Link Wed Apr 23, 2008
If your home is in good condition and it is priced right....it will sell quickly. You need an experienced agent to help you with determining the price for your home. Give me a call and I can help you with this. 860-916-2744.
0 votes Thank Flag Link Wed Apr 23, 2008
Well Robin - it depends on a bunch of factors. Are you basing the 730K price on what you paid or what you think it is worth? The best way to try to find the value of your house currently is to have a market analysis done of similar homes that have sold in the past three months. Higher end homes are definitely taking longer to sell, but if priced well, will still sell. If you have more questions, feel free to contact me at 860-539-5373.
Web Reference: http://www.carlguild.com
0 votes Thank Flag Link Wed Apr 23, 2008
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