Selling Your Signal Hill Home in Today's Market
As we approach the busy spring selling season Signal Hill homeowners need to be prepared for the new landscape of real estate. Knowledge of the neighborhood market, current real estate trends and the presentation of your home's best features are necessary information provided by your Realtor. Selling strategies and an aggressive marketing plan, personalized for your home, are part of the selling arsenal.
The Signal Hill real estate market is gradually warming up after a slight hiatus during the holiday season. During the month of January active listings increased 25% over the previous month, sellers are entering the market early this year. After the tumultuous previous 12 months of low inventory levels, multiple offers and bidding wars; eager sellers are hoping to capture more of the same. However pricing remains critical, homes priced at or slightly below market value have already begun to generate multiple offers. Those homes priced at or above market value are taking longer to sell. Average days on the market for Signal Hill has increased to 86 days.
Important factors impacting current real estate trends are interest rates and inventory levels. Interest rates have increased. According to the California Association of Realtors (C.A.R.) in the 2014 California Housing Market Outlook, interest rates may reach 5.3% by the end of 2014, impacting buyer purchasing power. During January the median price of California homes rose to $410,990 (22.1% increase over last year.) However inventory levels remain low with an available supply of homes for sale hoovering at 3.5 months. (A six - seven month supply is typical in a normal market.)
Selling Strategies for Signal Hill homeowners will be tailored to the individual home partnered with a detailed understanding of the neighborhoods micro-climate. Homes with Ocean/City views command higher premiums. The park proximity and gated communities of Signal Hill offer value to buyers. Energy efficient features, found in the newer construction homes, provide long range financial savings. The average price and average days on the market, in Signal Hill, are both higher than the surrounding communities of Long Beach and Lakewood. This type of information may form the basis for a selling and marketing strategy.
Selling your Signal Hill Home in today's market presents a unique set of challenges, however a well prepared Realtor can assist sellers win top dollars for their homes.
Call me! Let's get your Signal Hill home sold!