According to the MLS(r) stats provided by the GMRGM Board, for the second month in a row, we have stayed below 10 months of inventory on the market. This hasn't happened in over 30 months. The average sale price in the Board rose 4.2% up to $182,679. The average semi-detached price rose 2.1% to $159,851. In general things are okay in our market.
This is good news for sellers who have been getting beat up on prices in recent years. Buyers should expect a bit more push back from sellers who no longer want to be seen selling at a very low price. This attitude will probably increase if we continue to approach a balanced market.
Sellers - I'm talking to you now. If you expect top dollar for your home then make sure it is in top shape when you list it. Many of the things the building inspectors find will be small things but add them all up they become a big thing in the mind of a first time buyer whose tools fit in the glove box of their BMW. Do all the little things like paint touch-ups, making sure bi-fold doors don't rub on the floor, handrails are put back on from when you put the old beer fridge in the basement 10 years ago and so on. These things matter when you are gunning for top dollar.
Buyers - please understand that the home you are buying is not new construction (unless it is) and there will be little flaws in it. That's why it generally doesn't cost as much as a new house. Everyone needs to rely on their REALTOR(r) to help them manage expectations.
Buying and selling a home can be stressful - or not. It depends on your REALTOR(r) and on yourself. If you make a good team it's going to be a lot less stressful. Search for the person you can work with.
Call us if you are even considering a move. One of our team will help you find that perfect home or perfect buyer for your home and make the whole process as smooth as silk.
Call our local experts today. They are SMARTER BOLDER FASTER!