Market Report Jan 23

Dear Neighbor,

When you’ve outgrown your current place and you’re looking to move to a home that provides all the space and amenities you need, you want to make sure you’re maximizing your returns. However, you already have so much on your plate, add managing a move and preparing to sell, and things look less than appealing.

For most of us, our homes are the largest asset we’ll ever own—so, of course, you want to understand this asset and the market you are in. As you consider selling, you deserve the insight and guidance from an expert in your local market. Here are the top things to know about the Concord real estate market right now:

Here’s a review of the top things to know about the Concord real estate market comparing December 2022 to December 2021:

Inventory Is Down and Demand Is Leveling Out

With the inherently limited number of properties and consistently high demand, Concord regularly sees a boost in sale prices. In December 2022, 13 homes were sold, down from 18 homes the previous year. The sale-to-list percentage (how close the actual sale price was to the original list price) dipped to 99% in December, down from 100% at the same time in 2021. It is interesting to note that in Concord, of the 13 properties sold over the 31-day period in December, nearly 70% sold exactly at or below list price, indicating a shift in the market. To capitalize on your investment, you want to work with a real estate expert who understands how to strategically price and market your home so you get maximum return.

Average Sale Price is Trending Down

When correctly priced and positioned well on the market, several homes are still selling at or above list price. That said, the average sale price dropped to $1.42M from $1.71M in December 2021. Average days on market increased significantly, indicating a shift to a more “normal” paced market – with 63 days this December as opposed to 40 in December 2021. Understanding the nuances of these stats is critical when you are selling your largest financial asset–and that’s exactly why you deserve a strategic marketing plan.

We Continue to See Homes Sell With Multiple Offers

Despite the doom and gloom of National Headlines, our local market is still active and with the right strategic plan, pricing, and positioning for your property and your goals, we can attract maximum offers and get your home sold for the highest possible price in the fewest days on market.

As a homeowner, what does this mean for you?

If you’re thinking about selling in the next 12 months, now is the time to start preparing for market.

When I work with my clients, I take a holistic, 360-degree approach. This means understanding your exact needs—and only then, applying the right strategies to get you the maximum price with the fewest days on market.

As a Concord resident that’s highly passionate about our area, and with a strong background in marketing (at companies like Facebook and Yahoo!), I implement proven strategies designed to attract qualified buyers. This way we can get you the highest price for your home with the fewest days on market.

If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 978-734-4663

We will cover your goals and my unique approach to getting you the highest possible price in the fewest days on market.

Call Today →978-734-4663

Jamie Patterson
License # 9578512
eXp Realty
www.JamiePattersonMoveForward.com
978-734-4663

Concord Market Highlights

Source: ©2022 MLS Property Information Network, Inc.

[Note: The “Looking Ahead” section will only fit on the 11×17 size, which is our top recommendation. Here is a sample of copy for that section.]

Looking Ahead

Here’s what we’ll be watching over the coming months:

1. Low Supply of Available Homes

Concord had lower inventory in 2022 YTD compared to 2021. With continued low inventory and buyers less skittish about the housing market as interest rates stabilize, sellers who work with an expert to properly position themselves on the market can generally expect to secure a nice return.

2. Buyers Are Eagerly Searching

Buyers are eager to scoop up available inventory. In December, although during the busy all-consuming holiday season, homes still received an offer in an average of 33 days. When you have outgrown your current home and need to move, there are still plenty of interested buyers. Regardless of what twists and turns the market takes, it’s crucial that you strategically position your home to buyers to get the maximum return on your investment.

3. What to Expect When Selling Your Home

The market is always evolving. And you deserve to sell for the highest possible price no matter what. The right marketing strategy, accurate pricing, and skilled negotiation are what make the winning difference when you’re ready to sell what may be one of the largest financial transactions of your lifetime.

If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 978-734-4663