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Why Timing is Everything When Selling Your Home
You don’t have to know everything about the real estate market to increase your bottom line, but understanding the keystones of your current housing market reports that successful real estate investors and home sellers depend on to make money, could drastically improve what you get for your return on investment and inspire you to sell your house.
1) In real estate, timing is everything.
Since 2007, foreclosures are down 80% and lenders have loosened up on some of those restrictions. That means buyers are buying, but timing is even sweeter for sellers right now. The unique situation that you’ll find yourself in if you choose to sell your house is subsequent to housing market crash years ago – inventory is low. If you’re on the fence about selling your home, now’s your time to seize the opportunity while it’s ripe. Scroll down to search by city.
2) Successful Sellers Know Their Current Housing Market
To understand how the data is accumulated in the reports, and the rapid rate at which they change, review the following images: these represent the current real estate market trends for sell price in Chandler, Arizona from 2013 to July 2015. (scroll to view individual city)
Chandler real estate market report to July , 2015
3) Read the following terminology to better understand the data in this report:
Cromford Demand Index™ is a value that provides a short term forecast for the demand position within the market. It is derived from the trends in pending and sold listings compared with historical data over the previous four years. Values below 100 indicate a weakness in demand, while values above 100 indicate a stronger than normal demand. A value of 100 indicates a balanced market.
Cromford Market Index™ is a value that provides a short term forecast for the balance of the market. It is derived from the trends in pending, active and sold listings compared with historical data over the previous four years. Values below 100 indicate a buyer’s market, while values above 100 indicate a seller’s market. A value of 100 indicates a balanced market.
Cromford Supply Index™ is a value that provides a short term forecast for the supply position within the market. It is derived from the trends in active and sold listings compared with historical data over the previous four years. Values below 100 indicate a shortage of supply, while values above 100 indicate an excess supply. A value of 100 indicates a balanced market.
Days Inventory Based on Annual Sales
The number of days it would take to sell all the currently active listings based on the rate of sales over the last year.
Days Inventory Based on Monthly Sales
The number of days it would take to sell all the currently active listings based on the rate of sales over the last month.
4) Compare Annual Sales to Look for Patterns
Now take a look at the annual median sales price for Chandler and compare sale prices between 2011, 2012, 2013, 014, and up to July 2015. If price is an important factor to you, the market says that the likelihood that you’re going to get the highest possible sale price for your home is preeetty good.
The chart below is a WEEKLY VIEW of average monthly sales price for homes in Chandler.
Chandler Average Sales Price for July 2015 – Weekly Chart
Chandler Average Sales Price for July 2015 – MONTHLY VIEW
As you can see, if you’re on the fence about selling your house, you can see why it would be very smart to sell right now as the market is a seller’s market, but two weeks from now might cost you.
Always interview your real estate agent before jumping into a seller’s contract. The point to understanding the real estate market is to make money, but it relies on timing. A house that sits on the market for too long, or becomes expired does you no good. This one-minute video shows you what it takes in a real estate agent to sell your home quick and for the most money.
Click here to see current housing market conditions and trends for all Southeast Valley Cities.
