Median vs. Average - Howell Market Update

By
Real Estate Agent with Preview Properties, PC - http://www.RealEstateMich.com

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.

 

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Robert Smith

SRES, Search for Homes Brighton-Howell-SE Michigan
Curious about your home's value? Call me today
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