Real Estate Information Archive

When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are five criteria to look for in a sales comparison.

1.  Location: Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.

2.  Date of sale: It varies by location, but housing markets can see a ton of fluctuation in a short time period. It‘s best to use the most recent sales data available.

3.  Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.

4.  Features and upgrades: Remodeled bathrooms and kitchens can raise a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar bells and whistles.

5.  Sale types: Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not as useful for comparisons.

The minute Seasons change, everyone in real estate starts justifying why “Now!” is the best time to sell your home. And when it comes to Fall, the main reason real estate agents give is because there are usually less houses on the market to compete with. Or, the buyers in the market are more “serious”.

To me, the best reason for selling in the Fall (or any other time of year for that matter) is because you need to. If you don’t need to sell…wait. Not until Spring. Wait until you need to. Wanting to sell your house isn’t a bad reason. However, selling a house is a pretty big decision, and too many homeowners put their homes on the market prematurely.

The problem with that?

Since they don’t “need” to sell, they often overprice their homes, which leads to their listing becoming “stale.” That leads to giving buyers the impression that something must be wrong with the house…and often selling for less than the house could have. “Need” is not always easy for a homeowner to pinpoint. Many homeowners will even say they don’t need to sell. But in my experience, if someone is even thinking about selling their house, there is usually a need. It’s just hard to put a finger on.

So, if you’ve been thinking about selling, but aren’t quite sure if you need to… …give me a ring, text or email and I’ll help you figure out if you truly do have a need, or if it makes sense for you to wait until Spring…or the Spring after…or the Spring after that.

If you are thinking of selling, but not just yet, we have a great booklet that we can send you, at no charge, hassle or obligation, entitled “How To Prepare Your House For Sale.” Just let me know if you’d like it, and it’s yours!

But if you do need to sell, the Fall is certainly a fine time to sell. (And yes, you are still able to get the same booklet as mentioned above)! ;-)

4/22/17 – 4/22/18 (Sedona): Total Closed Sales: Up 12% from 205 to 232, over this same time last year. Median Recorded Sale Price: Up 12% from $467,500 to $530K, over this same time last year. Price Per Square Foot: Up 3% from $246 / sq. foot to $254 / sq. foot, over this same time last year. Days On Market: The one category we don’t mind seeing a drop…The average days on market was down 9%, from 158-days on market, to 145-days on the market for the average sale, over this same time last year.

4/22/17 – 4/22/18 (Cottonwood): Total Closed Sales: Up 8% from 334 to 361, over this same time last year. Median Recorded Sale Price: Up 14% from $201K to $229,900, over this same time last year. Price Per Square Foot: Up 10% from $135 / sq. foot to $148 / sq. foot, over this same time last year. Days On Market: We are seeing a 6% increase in the time a house sits on the market, from 108 days on average to 114, over this same time last year.

It is still a great time for a Seller to come on the market if they are thinking about selling their home.  Inventory remains low and Buyer demand for "the next best thing" remains very high.  If you price your home right, we are seeing multiple offers and offers going well over asking price.  If you or someone you know are thinking about selling, please don't hesitate to contact us for a free, no obligation MAP Review, which is our complimentary Marketing and Pricing Review we will do for you to help you understand how we would market your home and where you would be in today's marketplace. 

We are here to help! 

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