There has been some changes over the last 6 months. In 2021, demand for real estate was at a record high, inventory was at a record low, and bidding wars were expected. Home selling prices kept going up and up and houses were selling very quickly, sometimes in a manner of hours. Even “As-Is” houses commanded a good selling price!
The 2021 real estate market was something out of the ordinary, fueled by the pandemic, working from home and record low interest rates for borrowing money. In 2022, the market finally seems to be leveling off and we’re getting back to more of a “normal market” according to historical sold home prices over the past 50 years.
It’s currently a good seller’s market, just not one compared to, for example, last summer of 2021. Inventory has gone up, but still low to historical standards, and buyer demand for the more serious buyers are still in place. Here on the SF Peninsula, there is no more land to build new houses, most are re-sale homes renovated to today’s standards (like the kitchen in the picture) and people love our weather!
As a home seller, what can you do if you will be selling your home? With the changing real estate market, setting a realistic List Price will lead to a good Selling Price since overpriced homes sit on the market too long (DOM—Days On the Market) and buyers start wondering, “what’s wrong with this house?”. Marketing with a realistic List or Asking Price will attract buyers and a “Turnkey” home will sell for more in the least amount of time. Getting your home show-ready is more important than ever before.
Allow me to go over your options and get to the right List Price, and make buyers fall in love with your home to get the highest amount possible in the least amount of time. Remember, It’s still a good time to sell your home and a great time to buy your next one!
