I’m coming to you from Las Vegas, where I’ve been for the last five days, masterminding with top agents from around the world. I’ve been doing a lot of posting, letting people know that we just affiliated with Leading Real Estate Companies of the World. What is Leading RE? It’s a global network of top real estate brokerages and agents from around the globe. Seventy countries, over 4,000 offices, and more than 130,000 agents are represented in this network.
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We can now serve buyers and sellers not just locally, but internationally as well.
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For the Miranda Real Estate Group, this means that, now, not only can we sell or help buyers locally, but we can also help them globally. We can also attract many buyers now looking to come into the Capital District with the extra marketing and branding that we now have. If you are looking to sell or buy a home and want to take advantage of this expansion, please reach out to us. We have access to buyers and sellers all over the world, and we hope to use this network to better serve your needs, wherever you are.
What do the final numbers say about our 2017 market? What can buyers and sellers expect moving forward in 2018? Overall, 2017 was a pretty good year for our market. The Miranda Real Estate Group had our best year ever, selling 807 homes for a total sales volume of $166 million. Here’s how the final numbers tallied year over year compared to 2016:
The number of new listings dropped 4%.
The number of pending sales rose almost 2%.
The number of closed sales stayed pretty much the same.
The average days on market dropped from 74 days to 66 days.
The median sale price increased 3% from $194,000 to $200,000. This was primarily caused by low inventory, which heightened demand for homes.
The list-to-sale price ratio was 95%
Right now, we have a 5.5-month supply of inventory. This puts us slightly in a seller’s market, but things are still very balanced. If you’re looking to sell your home, you can expect to get top dollar. If you’re looking to buy, conditions are also favorable due to low interest rates, a healthy stock market, high consumer confidence, and low unemployment.
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If you’re a homebuyer, take advantage of interest rates while they’re still low.
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These conditions mean we think 2018 will be a great year. If you’re a buyer, though, you should really think about capitalizing on these low interest rates now because they’ll eventually rise throughout the year. If you have any more questions about our market or you’re thinking of buying or selling a home, give me a call or message me here on our website. I’d love to help you.
Should you sell your home now or wait until the spring market? It’s an exciting time to sell in the spring—you have the spring market rush with so many buyers coming out of the woodwork who have been in hibernation all winter. Fall and winter are also great times to sell, though, and here are six reasons why.
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If you’re truly motivated to sell your home, you need to make sure it’s on the market throughout the fall and winter months
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1. You’ll face less competition. The real estate market is all about supply and demand. If you drive around a neighborhood during the spring, you’ll see all kinds of “For Sale” signs. If you drive around a neighborhood during fall and winter, you won’t see as many of those signs because most of the other sellers have taken their homes off the market. Having less competition will create more demand for your property. 2. There are serious buyers out there. A lot of homeowners out there still believe that nobody buys homes in the fall and wintertime, and that’s just not true. Serious buyers are out there 365 days a year, and you want your home to be on the market so they’ll get a chance to look at it. 3. The best agents are always up for a challenge. If your agent is telling you to take your home off the market and wait until spring so you can enjoy the holidays, you’ve got the wrong agent. If you’re truly motivated to sell your home, you need to make sure it’s on the market throughout the fall and winter months. If you want to enjoy Christmas or New Year’s, you can simply elect not to show your home those days, but don’t take it off the market completely. 4. You can stage for the holiday season. A lot of buyers out there buy with emotion, and they like to see the different colors, aromas, and decorations the holiday season brings. If you stage your home for the holidays, it can create an emotional connection to buyers because it gives them the opportunity to see themselves in the home next holiday season. 5. Mortgage rates are low right now. What happens if they rise 0.5% after the first of the year, though? That could mean the difference between getting top dollar for your home right now or watching it sit on the market for much longer. When mortgage rates rise, buyers’ buying power diminishes. 6. Odds are you’ll have a quicker transaction. Though a lot of sales happen in the spring, those transactions normally take between six and eight weeks to complete. Fall and winter transactions close quicker than that because there are fewer other closings happening and fewer inspections that need to be done. If you have any questions about this topic or you’re thinking of buying or selling a home in the Capital District, don’t hesitate to call me or message me on my website. I’d love to help you.
