Wednesday, April 12, 2017

Listing your home in spring is great but listing in winter pays off, too

Source: Redfin

Certainly, the spring season is the best time to list a home. Home owners have a better chance of selling for more than the list price in the spring, and there's a greater likelihood for going under contract within 30 days. However, the spring season just barely budged out the winter as the best time to list, according to a new study by the real estate brokerage Redfin. Also, sellers will often find less competition in the winter, allowing their home to stand out more. Making sense of the story Indeed, 18.7 percent of spring listings received above the asking price while winter listings were close behind at 17.5 percent. What’s more, 48 percent of homes listed in the spring sold within 30 days; 46.2 percent of homes in the winter sold within that time frame. Redfin’s study found that for homes listed in spring, 18.7 percent sold above list price, in winter 17.5 percent sold above list price, in summer 15.1 percent sold above list price, and in fall 14.7 percent sold above list price. Autumn may very well be the trickiest time to sell. Forty-one percent of autumn listings sold in 30 days or less, and just 14.7 percent of homes sold above list price in the fall, the study showed. Listing at the start of the new year may work to a seller's advantage no matter where they live. Sellers are actually not dependent on living in a cold or warm weather climate when it comes to seasonal fluctuations in the real estate market, with winter and spring remaining the top selling seasons even across markets with colder weather, like Boston.

Wednesday, April 5, 2017

Downward construction spending expected to plateau

Source: Forbes

Bad news for your favorite HGTV home renovation show. Total construction spending, including renovations, on residential properties fell dramatically in 2016, according to U.S. Census Bureau data. Early indicators do not show significant reacceleration in residential construction for first half of 2017. The good news? They don’t suggest a major fall-off either; instead, data points to a general plateau.

Wednesday, March 29, 2017

Early 2017 is time to trade up

Source: Fortune

Buyers looking to trade up are in the housing market’s sweet spot – and experts think the beginning of 2017 should be a particularly good time to strike. Over the five years between 2011 and 2016, the average price on a two-bedroom house climbed 59% nationwide, while four-bedroom houses rose a more modest 41%, according to an analysis by Attom Data Solutions. Inventory has also risen at the higher end of the market, climbing almost 8% for homes in the $500,000 to $750,000 range. If you’re in the reverse position - prepare yourself. Inventory has tumbled among less expensive homes. Small homes have seen much sharper price growth than larger ones, and urban areas have appreciated faster than metro outskirts. Both trends are expected to continue in 2017.

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