Dear Neighbor,
Moving to a new home that meets all your space and amenity needs can be exciting, but the process of selling your current place and managing the move can be overwhelming.
Your home is the most meaningful asset because it allows you to make memories, live your days, and feel safe and secure in a space that is truly your own, and it’s essential to ensure you’re maximizing your returns in the current market. That’s why it’s crucial to seek guidance from a local real estate expert who can provide insights and help you navigate the Concord real estate market. Here are some key things you need to know about the market right now. The analysis below compares the Concord market from April of this year to April of last year (2022).
Inventory Is Relatively Flat
With the limited number of properties available and high demand, it’s more important than ever to price your home appropriately. The spring market is already heating up, with 12 homes sold compared to 11 at the same time last year. However, there’s a new trend to watch out for; the sale-to-list percentage has dipped to 99% in April, down from the whopping 110% in 2022. This means fewer bidding wars, but it doesn’t mean you can’t still make a profit. In fact, one home on Brook Trail Rd was priced to sell and went a stunning 24% over asking! To ensure you get maximum return on your investment, it’s crucial to work with a real estate expert who can strategically price and market your home.
Median Sale Price is Down
The median sale price decreased from $1.93M last April to $1.45M in April 2023. Average days to offer increased from 6 days last April to 16.5 but getting offers just outside of 2 weeks on the market indicates that there are plenty of buyers still looking for their perfect home. Understanding the nuances of these stats is critical when you are selling your most significant financial asset–and that’s precisely why you deserve a strategic marketing plan.
We Continue to See Homes Sell With Multiple Offers
The market is quite active, and it’s not showing any signs of slowing. With the right strategic plan, pricing, and positioning for your property and goals, we can attract maximum offers and sell your home for the highest possible price in the fewest days on market.
As a homeowner, what does this mean for you?
If you’re considering selling in the next 12 months, now is the time to start preparing for market.
Don’t miss out on the best time to sell your home! If you’re considering selling within the next year, now is the time to take action and prepare your property for the market. And when you work with me, you can trust that I’ll take a comprehensive, 360-degree approach to ensure you get top dollar for your home in the shortest time possible.
As a Concord local with a genuine passion for the area and a proven track record in marketing (at Facebook and Yahoo!), I know exactly how to showcase your property to attract the right buyers. My customized strategies are tailored to meet your specific needs, ensuring we get you the highest possible price quickly. So why wait? Let’s work together to make your real estate dreams a reality!
If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 917-572-5835
We will cover your goals and my unique approach to getting you the highest possible price in the fewest days on market.
Call today → 917-572-5835
Jamie Patterson
License #9578512
Compass
Concord Market Highlights
Single-Family Home Stats April 2022 vs. April 2023 Analysis
Median Sale Price
↓ Down 26%
Median sale price is now at $1,475,000, down 26 % from $1,983,000 in April 2022. When you price correctly from day one, you can maximize offers and ultimately sell for the highest possible price as quickly as possible.
Median Days To Offer
↑ Up 166%
Median days to offer are up, at 16.5 for the month of April. As demand has decreased, this further demonstrates the need for a precise strategy with pricing and marketing to ensure your home sells for top dollar in the fewest days on market.
Sale-to-List Price Ratio
↓ Down 10%
Sellers who overpriced their homes are now facing the reality that it will take even longer to sell and go through even more price reductions. When you start with an expert strategy, you can sell for the highest possible price in the fewest days on market possible.
Price per Square Foot
↓ Down 6%
Price per square foot is currently at $539/sq. ft. for the year, down from $571 in April 2022. To maximize your results, it’s extremely important to have a proven strategy and expert guidance from the beginning.
Source: MLS Property Information Network, Inc.
Top 3 Takeaways for the Savvy Seller
- “Sus” Semantics
If you have tweens in your life, you’re probably familiar with the term “sus,” which is a shortened version of “suspicious.” You might hear some realtors use the term “improvement” instead of “reduction” when referring to price adjustments. But let’s be real – when it comes to lowering the price of a home, and you are the seller, it’s hard to see how that’s an improvement! So, don’t be afraid to ask your Realtor to ditch silly semantics – after all, you want to ensure you’re on the same page when selling your home, and with an expert marketer on your side, the goal is to avoid pricing “adjustments” of any kind.
- Buyers Are Eagerly Searching
With pent-up demand and inventory constraints, buyers are eagerly searching for available homes. But don’t just sit back and wait for offers to roll in – to get the best possible return on your investment, it’s essential to have a strategic plan in place to position your home to potential buyers. Even if the market takes unexpected twists and turns, a well-executed sales strategy can make all the difference. Take advantage of the current market conditions and start planning your home sale today.
- What to Expect When Selling Your Home
The real estate market is constantly evolving, and you want to take advantage of the opportunity to sell your home for the highest possible price. Whether you’re a first-time seller or a seasoned pro, the key to success lies in having a solid marketing strategy, expert pricing knowledge, and strong negotiation skills (a little levity from your Realtor never hurts, either). After all, selling your home is one of the most significant financial transactions you’ll make in your lifetime, and you deserve to get the most out of it. So, don’t settle for less – work with a strategic marketer who will help you navigate the market and achieve your goals.
If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 917-572-5835
