Many sellers take their homes off the market in summer. Many years this is not a bad idea. This year doing that could cost your a great opportunity to sell your home.
Today I’m going to use one of my favorite places for real estate in the entire world, Paradise Valley. The reason for choosing Paradise Valley is the market is small and illustrates the point well.
The number one reason to have your home listed at the moment is inventory.
Paradise Valley has only 233 single family detached homes for sale as I type this. With 66 under contract.
That is not a lot of choice for buyers.
In the price range where most of the family estate homes reside which is $1 to $3 million there are only 134 homes for sale to choose from. If your home is in this price range there are buyers and not much competition to get your property noticed.
Are There Really Buyers At This Time of Year?
The last 7 days according to the Arizona Regional MLS there were 38 homes that went under contract. That’s 38 serious home buyers searching only 233 homes.
Prices Still Firming Up
Prices still are on the up. However, today the IMF reduced it’s growth projections for the US economy which could filter some nerves back into the housing market. Source: WSJ.com.
Selling Your Home?
Now might be a great time to sell. Because although the weather here is 100° here the competition among buyers is also heating up.
If you would like to take advantage of this call Marta at 480 274 5710 to get your home listed.