This week's Howell Michigan market update is actually a year to date (YTD) discussion. When sales volume is low, it's easy to have a distorted view because of a few extra low-, or high-priced sales. Because of that I switched from reporting just average figures to including median data, too. Until the market picks up, I think I'll keep with median instead of average.
As of March 21, 2016 we've had 179 sales with a median sales price of $209,000. The median days on market is a very fast 52 days. We're still waiting for sellers to decide that it's the right time to list. It's very hard to overcome preconceived ideas that a home will sell faster and probably for more money now than in a couple of months. And of course some folks think we're just trying to 'sell them' when we explain that. Fair enough.
But I firmly believe I'm right. And I've seen it over and over. So sellers, in case you need to hear it again. "Now is a great time to list your home." Motivated buyers + lower inventory = listing success.
Buyers, make sure the agent you select has enough time for you. It sounds funny, but it's true. I know some large teams that have great service. But sometimes that mega-listing-agent hires poorly trained, beginning agents as buyer agents. They juggle you with their day job, they struggle with traveling 45 minutes to show a home (especially a lower priced one), and sometimes they don't answer calls. I know because I successfully worked with a couple of different buyers last fall that had that experience with one of the largest teams in SE Michigan.
If you're a buyer that feels a little like a fish out of water, give me a call. I have a buyer workshop that will take 45-60 minutes depending on many questions you ask. Once you're done with it, you'll feel a lot more comfortable and in control. We'll schedule it at your convenience.
To watch my 4 minute market report video for this week, click here.