In the Walla Walla, Washington Real Estate Market, the inventory of homes on the market has increased. In past years, if you listed a home, it sold quickly. Multiple offers were common and the selection for Buyers was limited. There were very few new homes on the market. If a Seller listed their home a bit high, it would still sell.This year we have a larger inventory of new construction. Great for Buyers, but it does make it a bit tougher on the Sellers. Buyers are taking into consideration the cost of replacing older furnaces, roofs, and windows along with basic remodeling costs when purchasing a previously owned home on the market.
With this large inventory, Buyer's are scrutinizing about what they purchase. Pricing your listings to sell in this market is very important. Find out what your homes are competing with and view them through a Buyers eye. Is the home priced so you are getting showings? Are you getting a lot of showings but no offers? Find out what the Buyers are saying about the property. Is it the price or is it the condition? We can't sell homes like we did in the past. We need to sell them in the market conditions we have now. Sending out monthly statistics and sharing what has sold in their price range will help the Seller see what they are up against. As Real Estate Professionals, we need to know what is selling in our market, and how long it is taking to sell a home. We need to know the inventory. What may have seemed like a fair selling price at the time you took the listing may not be competitive in today's market. List your homes at a price that will sell. It will save both you and the Seller time and money in the end.
Scott & Brenda Williams
Windermere Real Estate/ Walla Walla