Russell Hulteen - Coldwell Banker Residential Brokerage

Posted by Russell Hulteen on 12/12/2015

SELLERS NEEDED! The National Association of Realtors« (NAR) released the latest housing statistics and sales were not as vibrant as in recent months. Before panicking, it's important to understand the factors at play and recognize that there are opportunities to be had under any situation. According to NAR, total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 3.4 percent in October when compared to September. Despite the slight decline, sales are still 3.9 percent above a year ago which demonstrates that the overall health of the market continues to improve. So why would sales dip if the market is improving and where are the opportunities? There are buyers currently in the market who are anxious to take advantage of lower interest rates, and lower prices as they continue to increase. The median existing-home price for all housing types in October was 5.8 percent above October 2014. October's price increase marks the 44th consecutive month of year-over-year gains. The main issue facing many of these buyers is a lack of inventory of new and existing homes. In the same release provided by NAR, total housing inventory at the end of October decreased 2.3 percent and is 4.5 percent lower than a year ago. Unsold inventory is at a 4.8-month supply which is keeping us in a tight seller's market. But...there are unique opportunities available to determined buyers in December. Let's not forget, while most buyers this month are distracted by shopping and traveling, houses are STILL coming on the market. Stay vigilant and watch your MLS updates, because not again until July or August will there be outside-the-market buyer distraction like there is in December. That said, if the opportunity for buyers this December is big, the opportunity for sellers is tremendous. The average days on market in October was 57 days demonstrating that homes priced right and in good condition are selling quickly. If you're going to need time to prepare your property, start now. Listing during the Winter in a sellers' market enables home sellers to jump in well before the Spring crush and before contentious competition can snatch your buyer's attention. Buyers this time of year are also more serious and tired of haggling. If the concern is one of time or inconvenience, there is no need to worry. I can help you manage the details and will guide you through the process. If you are on the fence about selling your property right now, look to the trends taking place in your market area by viewing the data here. Reviewing inventory levels, days on market and average price could help you make a decision. Even better, call me and I will review with you the benefits and any challenges you could face. Selling a home is one of the most important financial decisions one will make and I can help. Find Your County Below to View Your December Market Data Massachusetts Boston - 02113-North End | Boston - 02115-Fenway | Boston - 02116-Back Back | Boston - 02118-South End | Boston - 02130-Jamaica Plain | Boston - 02210-Seaport | Boston - 02114-Beacon Hill 02108 | Boston - 02108 | Boston - 02129-Charlestown | Barnstable Bristol | Essex | Franklin | Hampden | Hampshire | Middlesex | Norfolk | Plymouth | Suffolk Worcester Maine Androscoggin | Cumberland | Kennebec | Lincoln | Sagadahoc | York New Hampshire Belknap | Carroll | Hillsborough | Merrimack | Rockingham | Strafford Rhode Island Bristol | Kent | Newport | Providence | Washington

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