Joe & Kerstin,
I created this analysis to help you understand what’s happening in your hyperlocal market so that we can use these insights to strategically position your property to successfully compete against other listings and ultimately sell for the highest possible price.
While an appraiser will use properties found within a 1-mile radius for an appraisal, buyers don’t search for homes that way. They are more focused on school districts and cover a larger geographic area. As such, I have built the following charts to take into account properties within a 2-mile radius that are between $500-700K, 2500+ sqft above grade, 4+ bedrooms and built after 1990.
Launch Price Recommendation
Pricing is fluid. I recommend that we review the market a few days, to a week at the most, before going to market to finalize a launch price. The price range your property currently finds itself in is $625,000 to $650,000. As a reminder, my objective is to help you sell for the most amount of money possible, without leaving a dollar on the table.
Market Launch Recommendation
Based on the following data, and my experience, I recommend going to market in early-to-mid February. When you hire me as your agent, I will maximize your property’s exposure using a blend of the latest and most modern marketing strategies (online, social media, video, etc), along with the tried, and true techniques of yesteryear (agent networking, proactive phone calls, etc).
** As a reminder, you can review a sample of my marketing by clicking here.
This isn’t a suggestion on pricing. It’s simply what the average sales price in your area is. This is a blend of properties with and without basements. A week before we go to market is the ideal time to finalize a launch price.
– Percentage of Original List Price: 99.5%
After hitting bottom in June at 98.6%, these last months have seen positive upticks. That trend should continue into spring and summer.
– Cumulative Days on Market: 30
Days on market peaked at 31 days in August, held steady through November, and ticked down in December. Historically, between August and February, it takes longer for properties to sell. Come March, “Days on Market” begins to trend downward for spring market. Going to market in mid-February allows you to be positioned to take advantage of early buyers, and to ride the wave as it starts to happen, while at the same time beating the rush of properties going to market.
– Average Number of Showings per Listing: 10.1
Seasonality is a contributing factor. It picks up in March.
These are the choices available to a buyer within a 2-mile radius of your property, all within the Hillgrove HS district. I will update this page once a week.
The following properties are the ones that are currently pending in our competitive segment. Aka, buyers preferred them over the active ones. I will also keep this section updated once a week.
These properties successfully closed over the last 90 days.
This is a collection of properties that went to market, but either expired, or were withdrawn, over the last 90 days.