Monday Market Report – Selling Before the New Year

new signCan you believe it is almost October?!  This year is going by  so quickly, but there is still time to move this year and get into a NEW home!

Here are a few things to consider if you want to sell your Orlando home before January 1st:

1.  First things first, the Fall is a good time to list your home.  Many people may decide not to list during the holidays.  And that is good news for you because that means there is less competition!  Another perk for listing during the holiday season is that most buyers that are searching are as serious as you about moving.  (Also check out the 5 Reasons to sell your home this fall)

2.  The average days on the market currently is about 70.  That means if you want to close before January 1st, you’ll want to list by very soon.  Most transactions take about 30-45 days to close once you are under contract.  To get to contract could take on average 70 days!  So it’s super important to price right from the beginning to ensure a successful sale by the end of the year.

3.  Beware of overpricing.    You may have heard that the real estate market prices are up 6% from this time last year!  That’s great news and yet the number of sales is down 16% and the prices are down month to month as well.  We are in what is considered a stable market with supply and demand being pretty equal.

The Orlando real estate market is cyclical and shifts.  In the last two years we’ve seen heavy demand as buyers have been trying to take advantage of the low prices and low interest rates.  That heavy demand and lack of listings caused the prices to rise.  That’s great news for you as you intend on selling!  But as prices rise, many other homeowners have the same idea leading to more supply.  Many New Listings have hit the market for now.  Some will sell over the next few months and other homeowners will take their homes off the market during the holiday season. Yet serious buyers will continue to search for their home!

Preparing to list?

The main issue I see as we continue into the next coming months is overpricing.  The market has improved drastically over the last few
years, but I have noticed some sellers future pricing, meaning they are pricing their homes in what they perceive the prices to be in a few months.  Yet those are the listings that are sitting on the market and not selling.  List your home fairly within the market range and you will sell before the end of the year and have a nice fresh start to 2015!

If you’re serious about selling your home before the new year, get started with a free consultation.

 

Image credit:  Land for sale by Crinity via Everystock – Creative Commons License

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