Hartford and Baltimore Counties – Market Update September 2012

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Homes Selling Quickly

We are seeing a lot of activity in our marketplace. A very positive thing for sellers – something that many have been waiting for since the market crashed in 2007. Homes are selling very fast – our average Days On Market is now at 26 days and new listings are selling quickly and with good results.

Well-Priced Homes Getting Top Dollar

The key to quickly selling properties is often the way it is priced. We are reporting a lot of properties that are priced to sell and those are the ones that not only get top dollar on their homes but also experience multiple offers, giving sellers an edge over buyers. Another factor that impacts the outcome is that buyers today are savvier than ever before so they recognize a property with a realistic (or unrealistic) price.

Inventory Continues to Dwindle

We are seeing a significant reduction in inventory this year over last – with as much as 30% fewer homes available on the market in Baltimore County and anywhere from 20 to 25% fewer homes on the market in Hartford County (depending on the month). What this means for sellers is that they are enjoying less competition and therefore can expect a higher list-to-sale ratio. For buyers this means there are fewer properties to choose from so it is imperative to be decisive and take action on properties of interest.

Strong Showing Homes Selling Faster

Homes that have been de-cluttered, neutralized and enhanced to suit a wide range of buyers are the ones that are selling the fastest. The idea is to allow buyers a chance to visualize themselves in the space – so the fewer personal items and more “blank slate” décor that is used, the better your selling prospects will be.
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For a customized consultation to evaluate your real estate goals and how we can assist you, contact us today at 410 638 9555 or email at lee@leetessier.com. We look forward to the opportunity to work with you!