I was looking at some market statistics yesterday and realized that whilst everyone is all doom and gloom the picture is not so bad. Yes, there are certainly more homes on the market now than last year. Actually it has nearly doubled in every county I looked at, Chester, Delaware and Montgomery.
But, sales have also increased over last year, yes, more homes were sold in each county, than the same period last year. Prices are pretty stable in our area according to statistics, however buyers are putting low offers in on most properties, but if homes worth more are being sold it pushes up the median home price and does not give a true reflection of price.
Now admittedly there are more homes on the market than can be absorbed and days on market has increased, but that statistic keeps coming back to me, more homes sold than this time last year. So do not be discouraged if you are a seller. But what does it mean to you.
You need to price it right. You need to make your home stand out from all the rest. It needs to sparkle, it needs to cry out to be shown to buyers. Buyers cruising the internet need to call their agent and say, "Why haven't you shown me this property?" And did I say you need to price it right. That is the most important thing at the moment. You are not going to get the last penny out of your home sale whatever you think. Prepare your home for sale, get it looking beautiful and be reasonable and you will sell your home fast.
If you do get an offer, work it, don't get insulted, don't try to be clever, just treat it as a business decision and listen to your realtor.