What's My Cottonwood Home Worth? Market Report for September 2014
- Properties currently active on the market: 4
- Single-family properties closed in September: 3
- Average sales price: $373,500
- Average list price: $374,633
- Sales price to list price ratio: 99.7%
- Average days on the market: 20
- Active listings under contract: 2
- Percentage under contract: 50%
- Cottonwood absorption rate: 1.3 months of inventory (a normal or steady market would be 5-7 months; anything under 5 months of inventory is considered a seller's market, above 7 months is considered a buyer's market).
The demand for Cottonwood homes continues to grow. As a result, they are in an extreme seller's market. With less than two months of inventory available, now may be the time to sell your Cottonwood home.
Are you anxious to know what your Cottonwood home is worth? Just click the photo below and be taken to our instant home valuation tool. No more filling out forms and waiting for agents to get back to you. Receive the report in seconds.
While the housing market is booming in Cottonwood, buyers have become more finicky than ever. Homes built in the mid-1970's will require some type of improvements to sell quickly. Buyers don't want to go through the time or expense of completing updates. I have seen painted cabinetry, granite counter tops and stainless steel appliances make a huge difference in helping these homes sell quickly.
Two of the closed homes had updates, netting a very high price. For those who don't have the funds to make updates, pricing your home right will be crucial to a quick sale. Don't think that your house will sell for the same price as your neighbors if he had updates and you do not.
Once you've determined price, then you want to make sure your home is marketed to the largest number of buyers. The only way to successfully do that is hire a real estate agent but don't just hire ANY real estate agent, hire one who has an internet presence. Your agent will need to do more than just syndicate your listing. The internet has become the first showing, you need your home to have a strong presence online. You can accomplish this though professional photography, virtual tours and single-property websites.
A whopping 92% of buyers begin their home search online. Don't make the mistake of throwing a sign in your yard and think it will sell in less than 20 days like the homes that closed in September. Marketing a home properly is the key to selling your home for the most amount of money in the least amount of time.
I know a seller who sold his Cottonwood home FSBO. He later realized, he didn't have a good handle on the value of his home. He got much less than he could have had he used a real estate agent. That difference would have easily covered the cost of an agent's commission. Don't make that same mistake. Get your home in front of as many buyers as possible. Marketing your home locally is no longer your target market. Buyers are moving here from all over the country. Those are the buyers you want to see your home.
To learn more about how TW Realty Group will get your house sold in the least amount of time for the most amount of money, call Tammie White at (615) 495-0752.
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