Official September closed sales numbers have not been released yet, but we can report that pending home sales rose in August which means September and October numbers could come in stronger than last year. Pending sales are always a precursor to what may come one to two months out.
Pending Home Sales Rose in August
It’s a good time to be a seller. We have a fairly balanced market, however statistically it favors the seller right now. To make things tougher for buyers, new listings were down 17.8% in August. This pulled the overall listings on the market down 3.9%, a direct result of less listings coming in August. Officially we are down to a 4.9 months’ supply of homes on the market. We will run our numbers in a few weeks that will show current supply numbers by price range.
As a seller, right now is a good time to put your home on the market. In January there will be a rush of sellers placing their homes on the market. Today you can beat that rush. The Ellis Team has placed several homes under contract the past few weeks whereby the seller won’t have to compete with all the new listings entering the market. They got out now and were happy with their price.
Buyers are more motivated now than ever. There is less supply, and rates are historically low. We’re not saying rates will go up overnight. We are saying nobody knows when they will. Buyers have low rates and not as much inventory to choose from. Buyers are motivated. There’s an old saying that says it’s always best to strike while the iron is hot. The iron is hot right now.
We’ve got a new system for homeowners thinking of selling their home sometime in the future. We’ll show it in a future article, but basically the gist is this. The system will email you a neighborhood report with photos and details about nearby homes for sale, pending, and recently sold. In addition, at the click of a button there are neighborhood stats that will tell you how many homes are for sale in your neighborhood, the average price, the price per square foot, and the days on market. It provides commute times to your favorite places, as well as reviews of local neighborhood businesses.
If you’d like to see stats and info with your neighborhood, send me an email to Brett@topagent.com with your name, address, and phone number. I’ll put you in the system and it’ll email you new stats every two weeks.
If you prefer a quick price estimate, you can check out www.SWFLhomevalues.com This site gives you an instant price estimate that is surprisingly accurate in many cases. Of course, before listing your home we’d want to verify the information. Homeowners like this site because it is Fast and Free.
Buyers, we’ve got you covered too. You’ll want to go to www.LeeCountyOnline.com This site gives you a leg up on the competition because it includes all of the listings, and it’s updated every few minutes. There is nothing more frustrating than not seeing all the listings or looking at a home that sold months ago. Our site will help you win!
Speed wins in today’s market. That’s why we work so hard to bring you tools that will provide you information very fast. What you decide to do with it is up to you. All we ask is that if you ever need real estate advice, you’d think of the Ellis Team at Keller Williams Realty.
We study the market. We’re full-time and we take this seriously. Isn’t that the kind of agent you want working for you? If you’re a seller and want to speak with Brett or Sande, call us at 239-489-4042 Ext 4. If you’re a buyer, call our main line and we’ll get a buyer specialist in touch with you today.
Or just visit one of our handy tools and surf away on your time. We’re here to help you on your schedule. Good luck and Happy House Hunting!
See Last Week’s Article “Mortgage Applications Rise Sparking Important Questions“