There were 94 homes sold in Dothan in November, according to the Dothan Multiple Listing Service. Looking at the statistics, each spent an average of 128 days on the market. Out of those 94 homes however, 25 sold in less than 60 days. Why?
The median price for these quick sellers was around $133,000. No significant difference from the overall market median for the month of just over $134,000. 16 of the 25, or 64%, were inside the city limits of Dothan. So far this year, 62% of all sales have been inside the Dothan city limits. Again, no significant difference.
So why did these 25 homes sell in half the average market time? What makes them so special? What sets them apart from the rest if it isn’t location or price range? Read some of these remarks taken directly from the MLS listing:
- “Ready to move in”
- “Totally remodeled”
- “new appliances, countertops, flooring”
- “Best price in subdivision”
- “lots of extras and upgrades”
- “easy to show”
- “mint condition”
Only two of the 25 were listed to sell as-is, and both of those were foreclosures. The rest had three things in common. First, they were priced at or slightly below their competition. Second, they were in excellent condition. Third, they were easy to show buyers. Not a single one was listed as having an allowance for new carpet. None were listed as needing updating. Only one asked for a 24 hour notice for showings.
The most interesting statistic however is that the list-to-sell price ratio of these 25 homes was 98.24%, nearly 3% better than the market average. In other words, these sellers pocketed an extra $3,000 to $4,000 by having their home priced right, in market ready condition, and available to show AT THE TIME OF LISTING.
Time is indeed money. How does your home stack up against these quick sellers?
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