What’s Happening With Woodbury’s Luxury Home Market?

By
Real Estate Agent with RE/MAX Results

There are currently only five pending home sales in Woodbury over $600,000 and they are all new construction!  So far in 2014 only 23 homes have sold over $600,000 and half of them were new construction.  This means roughly one existing home per month sells in Woodbury over $600,000.  There are currently 19 homes for sale (not including new construction) in Woodbury over $600,000.  This means we have nearly a two years supply of inventory!

 

 

How are you going to sell your home!

 

Here are a few things you can do to stand out from the crowd and get your home sold:

 

1.     Price – review your current asking price with your agent.  If you are serious about selling you need to be priced slightly under “market value” to draw the buyers attention away from the new homes they are looking at.  Your home must be considered a value compared to building new.

2.     Condition – what can be done to improve the condition of your home to compete against new homes?  Simple things like paint and carpet can go a long way and help “freshen up” your homes look.  At a minimum, you should consult with an interior designer and have your home professionally staged and remove the clutter.

3.     Agent – what is your agent doing to aggressively market your home?  Taking a few bad photos with his or her iPhone and putting a sign in the yard won’t get it done.  If you have been on the market since spring and you still have photos of trees without leaves and dead grass – FIRE YOUR AGENT!  This is unacceptable and buyers will simply scroll over your home and go on to the next home if it appears it’s been on the market for a long time.  Also, what additional marketing efforts is your agent willing to do to attract buyers?  There are many different ways to find a buyer; I suggest you make sure your agent is effectively using all of them.

4.     Keep Your Home For Sale – The notion that buyers stop buying in the winter is completely false!  I sold a $625,000 home on New Years Eve last year.  Relocation and major decisions like moving up or downsizing happen in December and January so when inventory is low and everyone is waiting for spring to put their home on the market you stand a better chance of being the home a buyer selects as “the one”

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Topic:
Home Selling
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Minnesota Washington County Woodbury

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Wade Hanson

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