How is the Local Real Estate Market?
Local Market Update September 2019
How is the local real estate market? Should you wait to buy or sell in? Well, let’s take a look at Boerne. We are seeing the market staying strong at the half year mark. Let me give you an example of what I’m talking about. In all of 2019, the average days on market for homes ranging from 350,000 to 450,000 was 122 days. However, if you look how long it’s taking homes to sell right now, in that same price range, we’re averaging 51days. That’s a 41% decrease on how long it’s taking homes to sell in that price range. We currently, as of this time the video was created, we have 508 active homes for sale in Boerne. In January, at our lowest point, we only had 94 homes on the market. So what does this mean? It means that, with more inventory, you need to make sure that your home gets massive marketing exposure, it’s ready and available to show when the buyers wanna see it, and it’s in really good condition. When there’s more competition, you wanna make sure that the carpets are clean or new, the walls are free of scuff marks, and it’s as turnkey as possible. Otherwise, you have a lot of other homes to choose from that might look better than yours. In the 350 to $450,000 price range right now, there are 148 homes to choose from. According to the National Association of Realtors, a buyer typically only looks at 10 homes, so right now, there is more homes on the market, so you’ve got competition. You’ll have a much better chance of buyers wanting to see your property if your marketing is on-point, there’s lots of high-quality pictures and video, and your home is exposed digitally to the masses. Don’t wait for buyers to find you. You need to make sure that your marketing is showing up online where the buyers are actually looking. That way, you can sell your house, even with this competition, but even with that, it’s still is going to take a lot longer than normal, so be prepared, and as always, I’m here to help, so please reach out to me anytime, and remember, make it a great home selling and buying day!