This Fall, the Market Remains Strong
Typically, October is not the best month to list you house. The leaves are falling, temperatures are lower, daylight savings has made it darker earlier in the evening and the holidays are getting closer.
But, this year, the market continues to remain strong this fall. We had nine single family homes sell in October this year. We also have 15 single family and condominiums under agreement right now with a closing coming up. Most of these were on the market less than a week before receiving an offer.
The average list price for the single-family homes in Sterling and Princeton that sold in October was $509, 289 and the average sale price was $521,311. So, on average, the houses are selling above list price. The part that I find most interesting is there were only two homes that sold under $440,000.
Our inventory in Sterling and Princeton this year has been extremely low. But the inventory in the “starter” homes or homes for people trying to downsize has been the lowest I have ever seen. This makes for a great market to be in if you are a seller with a place to go, but one of my biggest challenges this year is helping my sellers find a new home if they are downsizing.
I was able to find houses that were not yet on the market through my various connections this year and have sold many houses off market. This trend may continue in this competitive market and a well-connected agent will be more likely to find you a house to buy. Being part of a company with thousands of agents in this area has made it easier to find my clients a house before they hit Zillow and REALTOR.com.
If you are thinking about buying or selling and would like some advice on how to navigate this market, feel free to call me at (978) 407-2568. I am happy to meet with you to go over options for your real estate plans.