Without a doubt, the market is the best it has been in years. Increased sales and higher sale prices. Great time to sell. BUT, if you’re like me, you’re seeing all your Realtor friends on Facebook post about a shortage of listings or that it is a seller’s market or how busy they are after practically being on vacation for the past 6 years. Sooooo, thought I’d throw in a bit of reality…..no clarity, about where we are today.
Yes, there is a shortage of good listings. Good ones are going fast, but you know what, they always have. I’ve sold houses very quickly in even the worst market. Not patting myself on the back. The truth is that in any market, the best ones sell because they are the ones everybody wants. I’ve always said that as long as there is one buyer out there, they will buy the best house they can find….we just have more buyers out there right now than we have had in a long time and that has people excited.
If you are a number person, you’ll like to know that there are 224 pending sales on LBAR in Lexington with asking prices from $120-300k AND THAT IS JUST IN THE PAST 30 DAYS!!!!! Sounds great, huh. It is. It is unless you are one of the 834 sellers whose house those 224 buyers didn’t pick. Yep, there are still 834 active listings meeting that same criteria.
It is still all about price-location-condition. Those that got it will get multiple offers. Those that don’t, well, despite what the calendar says, it is still about 2011 for those houses. Be sure you do not get caught up in the frenzy and pay too much for a house that doesn’t have the location-condition part because there are a lot of buyers from the early 2000’s frenzy that will tell you they paid too much even in an appreciating market. Back then, they just felt lucky to have gotten a house that in a buyer’s market was the one that was nobody’s first or second pick.
I think I’ll hit on ways to make sure you can get one of the best houses on my next post. I’ve got a few tricks up my sleeve that are far more creative than going over the asking price by $1000….I mean, that is so old school that the other agents in a multiple offer situation are probably doing the same thing. There is more to an offer than just money to motivate a seller 🙂