2007 has been kind of hard to figure out for most home sellers and a lot of agents. We have seen inventory in Raytown climb and prices fall... then, when no one really expected it prices started going up. So I decided to look closely at the number to try and determine why.
Here is what I learned.
So far in 2007, 1351 homes have been listed in the MLS. 649 of those listed have sold. There are currently 205 homes on the market. Do the math... 497 FAILED TO SELL THEIR HOMES so far in 2007. Most have given up or are waiting for the market to get better before they try again.
Prices in September are slightly lower than they were in January but the average days on market (DOM) is only 46 days. This does not translate into a "BAD MARKET." Prices are stable. Buyers are buying homes. In fact we are averaging 79 homes sold per month. So we have about 2.59 months of inventory in Raytown.
So, why are some people failing while many others a having success?
1. Price is key! You must price your home right. Today's consumer knows how much your home is worth, even if you don't. Over price it and it WILL NOT SELL!
2. Condition/Staging. Just because a home is valued at $225,000.00 does not mean that a buyer is going to be willing to pay that. If you are going to get 100% of your homes value, you had better have in 100% show condition.
3. The REALTOR does make a difference. The average REALTOR in the KC area sells about 4 homes per year. How long is it going to take that person to become proficient? Interview more than one REALTOR. Ask tough questions and don't sign a lengthy contract. If your REALTOR is doing a great job, you can always give them an extension... if not, you want to hire someone else. Make sure your REALTOR has their own website where they will feature your home. The Company's website is not enough. Keep in mind that today's buyer is very likely to look at your home on-line before the visit it in person.
If you need a competent, full time, professional REALTOR... Make the best move you will ever make and call The Nichols/Ersery Home Team at 816-875-2134 or visit us on-line at http://www.mykchometeam.com/