The Swain Team December Monthly Market Update

December is hot!

We have 7 settlements lined up for December.

Winter is a great time to sell! Because, the number of homes coming on the market since mid-November has dropped. Yet, there are a number of buyers still out looking waiting for the perfect home to come on the market making it an ideal time to sell and net the most. If you wait until the spring to list your home, there are more homes for sale, which means there is more competition. Be sure to hire an expert realtor, like myself, with innovative marketing strategies guaranteed to net you the most.

The Wall Street Journal says that home sales drop off as owners stay longer in their home. The average time a homeowner stays in their home has risen nationwide. 13 years is the average, whereas in 2010 it was 8 years. Specifically, for the Philadelphia area people are staying in their home for an average of 14.5 years vs 10.3 years in 2010.

So why do we think that is happening? There are a few possibilities:

Kids who are getting out of college are returning home because they can not afford to purchase. They have college student loan debt. So, mom and dad who would normally downsize or move somewhere warmer are staying put.

Another scenario is that folks have lived in their home for years and their mortgage is paid off. If they move, they would most likely need to get another mortgage and/or pay higher taxes. In this stage in their life it is easier to stay put.

If you have been in your home for years and you are thinking about selling in the future consider attending one of our upcoming home selling seminars in January or February.

Wishing you a Happy Holiday Season!