In an ideal market the amount of homes available for sale would equal six months of sales. More than that favors a buyer and less than that favors a seller. Here is a breakdown of brightmoor over the past three years October to Ocotber:
3 years ago 18 homes sold for an average of $230,064. They were on the market for an average of 39 days.
2 years ago there were 16 homes that sold for an average of $209,106. They were on the market for an average of 46 days.
Last year there were 8 homes that sold for an average of $196,750. They were on the market for an average of 96 days.
Currently there are 12 homes on the market right now and 2 homes scheduled to close in the near future. The current homes on the market are advertised for an average price of $214,408. They have been on the market for an average of 118 days.
Based on the data availble for the past three years; the trend is favoring the buyers right now as home sales dropped off dramatically two years ago to last year. Based on last year there is over a year supply of homes on the market right now....
Dave diCecco
Realtor/Broker
www.davedicecco.com
Monday, October 11, 2010
Friday, October 8, 2010
Crestdale Crossing Matthews, NC. Market Report Oct. 2010
As we head into the latter part of fall and the beginning of winter we have seen some turmoil in the housing market in the past couple of years. As home prices were falling interest rates were dropping with them making it even a better time to purchase a home. Now, that is appears the bottom has been reached and we begin th slow climb back up the ladder of home prices; this community in Matthews NC. has done it's share to shield itself from the turmoil.
Crestdael Crossing is a community of about 110 single family homes nestled away in Matthews clsoe to downtown and independence blvd. A quiet community which is known for it's diversity and young families. There is not a day that goes by that you do not see kids riding bikes, playing basketball or visiting the spacious park. Maybe those are some of the reasons the community has withstood the housing market better than most.
3 years ago 14 homes sold for an average sale price of $129,057. They lasted on the market for only an average of 35 days.
2 years ago 3 homes sold for an average sale price of $109,333. They lasted an average on the market of only 13 days.
Last year 6 homes sold for an average sale price of $129,600. They lasted on the market for an average of only 42 days.
Currently there is only one home on the market in this quiet family subdivsion. So, as you can see eve as the market has tumbled the pricing (except for the intial crash) has been stable. Also, the average days on market is substantially less than the current market dictates.....
Dave diCecco
Realtor/Broker
www.davedicecco.com
Crestdael Crossing is a community of about 110 single family homes nestled away in Matthews clsoe to downtown and independence blvd. A quiet community which is known for it's diversity and young families. There is not a day that goes by that you do not see kids riding bikes, playing basketball or visiting the spacious park. Maybe those are some of the reasons the community has withstood the housing market better than most.
3 years ago 14 homes sold for an average sale price of $129,057. They lasted on the market for only an average of 35 days.
2 years ago 3 homes sold for an average sale price of $109,333. They lasted an average on the market of only 13 days.
Last year 6 homes sold for an average sale price of $129,600. They lasted on the market for an average of only 42 days.
Currently there is only one home on the market in this quiet family subdivsion. So, as you can see eve as the market has tumbled the pricing (except for the intial crash) has been stable. Also, the average days on market is substantially less than the current market dictates.....
Dave diCecco
Realtor/Broker
www.davedicecco.com
Thursday, October 7, 2010
Does Your Realtor Update Your listing
Okay this may sound like a dumb question. But how many of you view your listings online and check the comments and notes that they write in there? Based on a review of homes in a select area where I had a buyer looking for a home; I would guess not many. The reason is you have contracted with that Realtor to market your home and help you get it sold. We do not get paid until the home sells. So, logically it makes sense to think that we are doing everything we can to help you get your home sold. But are we?
As we all know the tax credit that expired in April and had to be closed by September 30, 2010 has expired. Yet, in a recent search I did yesterday; I came across 15 homes out of the 56 that came up in my search that were still mentioning the tax credit. That is an astounding 26%. As a home buyer how do you perceive the Realtor and seller of this home when you are reading "Can be under contract in time for the April 30th tax credit" in the comment section? Do you think what is wrong with this home? Why has it been on the market so long? Do they really care if it is sold? All valid questions.
That si only one question I came across. Other ones mentioned get in with time before school starts plus a few more comments that were seasonal. All told I came across 39% of the homes with comments that mentioned a time frame or period that has passed.
So, why would you not insist on having your Realtor update your listing? Or does your Realtor even look at your listing once they put it in the system? Apparently a good percentage do not.....Could this hinder your chances of getting the house sold? YES.
My buyer would ONLY consider those homes after looking at the other ones. And only if she did not see something she liked. Why? becasue she felt it was either over priced or there was an issue with the hosue.
So, check your listings online and search for them. See what your Realtor has written and how often they are updating it.....You might be suprised by what you read.
Dave diCecco
Realtor/Broker
www.davedicecco.com
As we all know the tax credit that expired in April and had to be closed by September 30, 2010 has expired. Yet, in a recent search I did yesterday; I came across 15 homes out of the 56 that came up in my search that were still mentioning the tax credit. That is an astounding 26%. As a home buyer how do you perceive the Realtor and seller of this home when you are reading "Can be under contract in time for the April 30th tax credit" in the comment section? Do you think what is wrong with this home? Why has it been on the market so long? Do they really care if it is sold? All valid questions.
That si only one question I came across. Other ones mentioned get in with time before school starts plus a few more comments that were seasonal. All told I came across 39% of the homes with comments that mentioned a time frame or period that has passed.
So, why would you not insist on having your Realtor update your listing? Or does your Realtor even look at your listing once they put it in the system? Apparently a good percentage do not.....Could this hinder your chances of getting the house sold? YES.
My buyer would ONLY consider those homes after looking at the other ones. And only if she did not see something she liked. Why? becasue she felt it was either over priced or there was an issue with the hosue.
So, check your listings online and search for them. See what your Realtor has written and how often they are updating it.....You might be suprised by what you read.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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