Five good reasons to sell your home during the holidays

Contrary to popular belief, buyers shop for homes all year round, including the holiday season. In fact, sellers who put their homes on the market during the holiday season (roughly between November and January) may have an advantage because there are fewer houses on the market so there’s less competition. There are several other reasons to consider putting your home on the market during the holidays:

1. Many home buyers have extra time off during the holiday season so they have more time to look for their new home.

2. Because of the limited supply of homes for sale, sellers may be able to receive a higher purchase offer than expected.

3. Buyers looking for homes during the holidays are usually highly motivated to buy before the end of the year so they can get extra itemized income-tax deductions for mortgage loan fees, interest and pro-rated property taxes.

4. Festive lights and holiday decorations can help a home “show better.”

5. Because January is traditionally the month for transfers, having a home on the market at the end of the year can capture the transferees who may not be able to wait until the Spring to buy a home.

November sales activity

The Wenatchee valley had 43 home sales in the month of November between the prices of $56,000 on the low end and $390,000 on the high end.  A total of 33 of the 43 homes were under $250,000.  As of today, there are 371 homes on the market.  The home supply is down in what seems to be equal proportion to the home sales.  This indicates a leveling off of prices.  Winter can be a good time to buy and sell a home.  There are some nice homes for sale at reasonable prices.  Call me for the latest information, 860-2040.

October sales activity

There were 53 homes that closed in October.  We currently have 83 under contract.  50 home listings have expired unsold in the past month and there are 417 currently for sale.  If you want to sell your home, you have 25% chance of success (on average).  The odds go up if you are under $200,000 and down if you are above $300,000.  The market continues to favor the buyer.

May vs. October comparison

Back in May, I shared the following facts:

498 homes for sale, 93 under contract (64 of which were under $250k)

Now compare this with today:

440 homes for sale, 86 under contract (62 of which are under $250k)

So there are fewer homes for sale and about the same amount under contract.  This would suggest that prices are beginning to see some stability.  I would agree that stability is evident in the $250k or less price range but not in the upper price ranges.  I will keep you updated!

Kelly

Climb for Rwanda – Kilimanjaro Expedition

Please visit the following website to learn about an amazing adventure I will be participating in next February.  Your help is greatly appreciated!

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May God Bless,

Kelly Boyle

Homes for sale vs. pending sales

There are 442 homes for sale today (stick built homes in the Wenatchee Valley).  There are 30 homes that have been reported as pending  since October 1st and 90 total that are under contract and waiting to close.  This is approximately 20% of the market, a bit lower than earlier this year.  I am eager to see how the supply/demand ratio plays out over the winter.  My speculation is that it will stay about the same or slightly higher on the supply side.  I maintain the opinion of lower prices for next year.

Sales in the 300k – 500k range?

With 114 homes currently for sale, only 5 are under contract.  I hear over and over how homes above 300k are not being viewed.  If you are a seller in this price range you have a choice, bring your price down, fix your house up, or wait for a better market.

What’s in store for winter???

Well, in my opinion, a slow market.  Yes, there will still be sales (as always) and yes, winter can be a good time to buy and sell.  I remember several clients taking advantage of the winter market to make their move.  The main advantage is fewer homes to choose from (advantage to the seller) and many listings with motivated sellers (advantage to the buyer). 

Prices will continue to trend downward in this market and will level off sometime next year.  Before long, a new wave of baby boomers will begin their migration to the beauty of the Wenatchee valley.  Beware, we may see another spike in prices in 3 to 5 years.

57 homes closed in September

41 were under 300k.  These are stick built homes in the Wenatchee Valley - data derived from the NCWMLS.

1 in 3 homes sell under 250k in Wenatchee

A quick search in the North Central Washington MLS shows that there are 93 homes on the market in the 200k – 250k price range in the Wenatchee valley.  33 homes have closed in the past 60 days and 34 properties are currently under contract.  This demonstrates that 1 in 3 homes are selling.  Not bad!

In this same market area, there are 101 homes for sale between 150k and 200k.  27 homes have closed in the past 60 days and 37 are currently under contract.  About the same rate as the higher price range.

If you were wondering where all the homes are selling in Wenatchee, this is it!