Today, success in real estate requires the collaboration of smart, experienced realtors and well informed clients. More than ever, home sellers, as well as buyers, must have an understanding of real estate market trends in their area and have essential sales facts at their fingertips. Possessing this information makes for savvy clients, who can better recognize market changes and react more quickly to their realtors’ recommendations…
Savvy home buyers and sellers know these basic real estate facts in their area:
- The average sold prices of homes in clients’ area.
- The average number of days a home may be on the market before sale…better known as Days on the Market (DOM).
- The average percentage difference between asking and sold prices.
- The Absorption Rate: the total number of current listings divided by the number of homes currently being sold in one month gives the current number of months of homes inventory…the Absorption Rate.
Contact a member of our sales team to find out what statistics they have on your personal market and ask to be set up with a monthly neighborhood market report so that you know "first hand' how your home stacks up to the competition!