Are you ready for some more great data? Over the past two years, the average list price has risen by 31%. Also, it has gone up 12.5% just in the last 12 months. The average list price has risen by 3.65% in the last three months also. This is following expected trends, and the rate of appreciation is drastically slowing, but this last bit of data is unexpected. The average list price in the past month has risen 7.65%.
When I started this business in 2007, right as the Great Recession began, there was a lot of lagging data in the form of sellers thinking they had not missed the boat. Sellers nowadays haven’t missed the boat yet, but pricing your home right to attract as many buyers as possible is now more critical than ever. During the pandemic rush, people could overprice, and new agents could get into the business and look like superstars immediately. However, now skill, experience, and sound strategy matter more.
If you have any questions, don’t hesitate to reach out to me by phone or email. I’d love to help you.