How to Get a Quick Sale in a Slower Market?

By
Real Estate Agent with Fathom Realty DC-VA-MD

Few days ago it was posted in the Realtor Mag, and I tought I'll share:

An analysis of the real estate market in the Baltimore area shows that even in a slow market some houses sell quickly - for the same reasons they do in a booming market.

In November, when the average time on the market was 105 days, 13 percent of the 1,892 homes that sold in Baltimore and five surrounding counties had contracts in two weeks or less, according to data from Metropolitan Regional Information Systems Inc.

Those 251 homes went from listing to selling in an average of seven days. They were typically older, three-bedroom, two-bath houses that sold at an average of $304,355 - about $4,000 under the overall average sale price.

An analysis shows that fast sellers in a slow market have three common denominators:

  • They're priced better than comparable listings.
  • They show like model homes.
  • They have a full force of marketing, including enticing Internet photos, behind them.

Source:

http://www.realtor.org/RMODaily.nsf/pages/News2008011102?OpenDocument

Comments (3)

Richard Ives
Chicago, IL

Great blog, Boris.

Have a great day!

Jan 29, 2008 06:09 AM
Kevin Wood,
Keller Williams Southern Arizona - Tucson, AZ
Tucson, AZ Realtor

Boris, good work. It's funny how the fundementals always come full circle.  Good stuff.

Jan 29, 2008 06:19 AM
Tony Grego, 317-663-4173 #1 Trade Association for Alternative Inv
REISA - 317-663-4173 - Indianapolis, IN

Hey Boris!

I guess when you get right down to it PRICE does matter.

Happy Selling!

Tony

Jan 29, 2008 06:25 AM