Thinking about selling your home?
If you're like me, you're curious about how much your home is worth. Whether you're planning to sell your home, thinking about refinancing your home, or dreaming about an addition or upgrade to your home, knowing the current value of your home is helpful information to have.
As an experienced real estate professional, I have the answers to your questions. I begin by looking at the data.
Let's start with the competition by looking at Inventory
Take a look at the Inventory chart below which calculates the amount of homes on the market based on how long it takes them to sell. The black indicator shows the number of months of inventory currently on the market in your area. This figure takes into account several factors to help you understand the current supply and demand. When the inventory is low, it's more of a sellers market. When the number is higher, it's generally considered a buyer's market.
The orange area shows this months 5-year average.
If you're like me and enjoy viewing pictures of the listings that make up this inventory to see how your home compares, give me at the Hollish Hill Group. I'm happy to show them to you. Or we can go and see them in person if they haven't gone UUNDER CONTRACT or SOLD.
What about pricing?
To understand how the sellers of homes in your area are pricing their homes, take a look at this chart which calculates the ratio between the final sales prices on homes to the original list price of the homes.
If the ratio is close to 100, the sellers chose list prices that were very close to what the market felt they were worth. The further below 100 the number, the less realistic the sellers were with their pricing. If the ratio is over 100, buyer demand and competition are driving the prices above asking prices.
Pricing can be tricky. It can be impacted by the season, the market, the competition, interest rates, condition of the home...many factors. If you'd like to get a feel for what I think your home is worth, give me at the Hollish Hill Group. I'm happy preview your home and provide you with my estimate of the value.
How much will I get for my home?
The data above takes the final sales prices for all homes in Bethesda into consideration. It doesn't calculate how much you will net as proceeds of the sale. Calculating your proceeds begins with knowing how much you owe on the property and the amount it will cost you to sell your home.
If you'd like to get data that is more specific to your home, your neighborhood or your housing type and you'd like help calculating the proceeds you can expect from your sale, I'm happy to provide it to you. At Hollish Hill Group, we make Your needs and wants our top priority.
Subscribe to CommentsComment