The Swain Team – November Monthly Market Update

November is shaping up to be a busy month. I am talking to a lot of sellers who are preparing for the spring market next year. But wait! Don’t forget that the fall/winter is a great time to sell because we have NO inventory. So there are buyers out there ready to pounce when a great home comes on the market.

Now we have seen prices increase in the area yet many sellers are starting to overprice their home. So if you see a home sitting on the market for a while it is most likely price. Sellers assume that buyers will look at their home and make an offer even if they price it high. When in reality buyers don’t make offers on overpriced homes is because they don’t want to offend the sellers. It can be insulting to the seller and embarrassing for the buyer. Buyers also erroneously believe sellers know when their homes are overpriced, and if they were willing to sell for less, they simply would lower their prices. So pricing is key to netting the most when you sell.

Let’s take a look at the third quarter statistics for our area for 2019 vs 2019 by County:

In Bucks County we saw a 3.8% increase in the median sales price as the number of homes for sale decreased.

In Burlington County we saw a 8.4% increase in the median sales price as the number of homes for sale decreased.

In Montgomery County we saw a 3% increase in the median sales price as the number of homes for sale decreased.

In Mercer County we saw a 11% increase in the median sales price as the number of homes for sale decreased.

In Philadelphia County we saw a 2.6% increase in the median sales price as the number of homes for sale decreased.

Our third quarter stats support that fall/winter will be an ideal time to sell! So if you are thinking about selling contact me, an expert realtor who knows how to get your home sold for the most money, in the least time with the least hassle.

Be on the look out for our upcoming 2020 home selling seminars dates that will be released shortly.