Market is Shifting
Experts are predicting a shift in the real estate market, so I decided to do some research on single family homes sales in Sterling and Princeton.
2018 – 30 houses sold from January 1 to May 31, 2018. The average sale price was $376,000 and the average days on market was 72.
2019 – 20 houses sold from January 1 to May 31, 2019. The average sale price was $375,000 and the average days on market was 76.
2018 – 15 houses sold from January 1 to May 31, 2018. The average sale price was $386,000 and the average days on market was 61.
2019 – 12 houses sold January 1 to May 31, 2019. The average sale price was $357,000 and the average days on market was 98.
What it Means
The data show a slight decrease in sales and a longer time on market this year. In the most recent down turn, the worst year in real estate for Princeton was 2010. Only 17 houses in Princeton sold for an average sale price of $344,000 with days on market at 168. For Sterling, the worst year was 2009.
Only 43 houses in Sterling sold for an average sale price of $289,000 with average days on market at 98.
People have asked me, “Should I sell now because the market is high?” My advice is to sell when you are ready. Don’t let the market dictate when you should sell. If you are selling high, most likely you are buying high, too. If you sell low, buy low. The only time it really matters is when you are downsizing, retiring, or moving to a different market. Buying and selling a house is one of the most stressful things people do in their lives. No need to make it harder by letting the market rush you into a decision.
*All data was taken from MLS
Have a Real Estate Question?
Feel free to email me any of your questions and I would be happy to answer them next month in this column or directly to you. Email me at firstname.lastname@example.org