Properties that are priced to sell and are presented well are selling quickly and within 5% of their list price. Those that are priced too high and are not staged to sell, still sit on the market. There is a shortage of GOOD inventory and homes that are priced too high are staying on the market in ALL areas.
It is definitely NOT a seller's market.
However, it is a market favorable to the SELLERS if they are realistic with their pricing and are willing to get their properties prepared to sell. Once in escrow, the sellers and buyers are trying to work everything out. This process still favors the BUYERS (but not as heavily as in the past).
We are seeing more BUYERS getting into back-up offer position right now. So, you can see, if a property is not priced to sell and competitively presented, the buyers will wait for the next reasonable choice.
This home is one of my recent listings in Alamo:
- Priced to sell
- Professionally staged
- Pending sale in 10 days
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