December is upon us (Yikes!) and November 2008 is history. What do we have to show for it in regards to real estate sales* here in Greensboro and the surrounding communities in Guilford County?
Looky:
- Avg Closed Price/Days on Market for all of Guilford County (Nov 08)*
There are couple of outliers showing here, like the very low Days on Market for the very high Average Sales Price for the Stoney Creek Community. There was one property that closed, and it was on the market only 8 days (congrats, Stoney Creek homeowner, whoever you are!)
The overall numbers for Guilford County are:
- Total Closed Properties: 197
- Average Closed Price: $160,685
- Average Days on Market: 96
And how does this compare to last November? Let’s look, shall we?
- Avg Closed Price/Days on Market for all of Guilford County (Nov 07)*
The overall numbers for Guilford County for November 2007 are:
- Total Closed Properties: 465
- Average Closed Price: $180,342
- Average Days on Market: 89
Frankly, I’d rather look at November 2007′s numbers than 2008′s. But this is reality, not whatever dimension certain extreme northern state governors occupy, so we must face facts. Fewer properties closed last month than the same month one year ago. And for a lower average sales price. But still, properties did indeed sell. About 48% fewer, but still. (Now, if only the membership of the Realtor®’s association would drop by the same percentage. But I digress…)
What’s a homeowner to do?
If you don’t have to sell right now, don’t. Many folks like to “test the waters” to see what their house will bring. It’ll only hurt your feelings. Sit tight for a few months at least.
If you do need to sell, get with a good real estate agent in an established company – one with resources to market your property to the fullest and with sufficient staff and agents to make appointments as plentiful as possible. (It can be a challenge for small companies to have staff available to make showing appointments with you and if agents can’t show your house they can’t sell your house).
Then look at the numbers realistically. Properties do sell. But they need to be priced properly, clean, free of odors – let a fresh nose sniff around for you – and ready to be shown at a moment’s notice.
Finally, don’t take it personally if someone ‘low balls’ you on an offer. Once you list your house it ceases being your home and becomes a product for sale. Thick skin is required.
If you’re a buyer – have at it. There’s inventory, great rates on mortgages and plenty of people who want to sell you their house.
Now, after looking at those numbers, please excuse me as I need another cup of coffee – or something.
*All information per MY interpretation of Triad MLS (Multiple Listing Service) data and is decidedly unproved and unscientific.
{ 2 comments… read them below or add one }
I’m already sensing, after having owned a home for merely a week, that being able to recognize it as just a product for sale will be hard. Almost like I’ll have to do something to the house — repaint or rearrange furniture — to help myself detach from the really wonderful feeling I have of it being *my* home.
Oh yes. But when you have your house on the market you will undoubtedly have your next one picked out. Great motivation for getting the first one sold. But you’re right. Someone dissing your home is like being told you have ugly children – something with which I would NEVER be able to relate!