Happy New Year and Welcome to the Spring Market of 2019!
Inventory is just starting to pick up after the holiday season. The beautiful thing about the early Spring Market is that the buyers are already out there looking feverishly but the inventory is still low. This creates a “frenzy like” situation for a seller. All new listings, if priced correctly and presented properly get a tremendous amount of attention during this early period and tend to sell quite quickly and often times with more than one offer. Most sellers do not think about the spring market as beginning this early in the year, but it does! In fact, the home that we wrote about in our blog post late last week received a very solid offer immediately following the first open house.
Open houses have been very well attended with reports of 50-100 people coming thru some newly listed properties. This tells us that the buyer pool should be quite large this year even with rising mortgage interest rates.
There is one change that we expect to see and that is in pricing. Buyers are choosing wisely and not willing to overpay for something that does not tick all of their boxes. The market is becoming more balanced whereby the seller is not 100% in charge like they have been for the past several years. You cannot price your house based upon what your neighbor received last spring in multiple offers. Smart pricing is necessary in order for you to pocket the most money.
If you are looking to sell this year, please call us in NOW. We can put a plan in place to help you meet your goals.
The Lichtman Rabney Group at Hearth Realty is led by a former NYC attorney and a former Senior VP at Atlantic Recording Company. While we are award-winning agents with over 25 years combined experience in the local market, our true measure of success is through the satisfaction of our clients. It has never been our goal to do the greatest number of transactions, our goal is to bring the greatest value to you.