Real Estate Watch – Camden McKay Real Estate – Troy Merrell
PQ Market Update
Your PQ Real Estate Update for July and August
As of the time this was written, we have 80 homes being sold in Peñasquitos, which is slightly down from the 92 we had at the end of July. This isn’t a surprising decline with school starting, but if you’re out there searching for a home to buy you may see this trend continue through the end of the year. Market times have inched upwards but are still selling at a speedy 28 days on average.
As I have spoken of in prior writings, be wary of overpricing your home, watching it sit on the market, and reducing the price down the line. It can affect the mindset of buyers and result in lower offers. Homes in good condition that are promoted effectively and priced according to the current market conditions will sell quickly and for the highest amount.
July saw homes selling for 98% of the listing price which is very strong, but still something to keep an eye on since they were selling for 99% from March through June. There could be many reasons for this trend and the drop isn’t significant enough to panic if you’re selling, but it is important to know the trend when pricing your home.
If you’re considering selling your home in this market, I would recommend reaching out to your agent, or myself if you don’t have one, to help you improve your odds of selling in the shortest amount of time and for the highest amount. There are little things that one simply gets used to while living in a home, but a squeaky hinge, drawer that doesn’t operate properly, and dusty baseboards all add up for a potential buyer. Curb appeal is also important as it sets the tone for the entire viewing; from the moment a buyer gets out of the car, your home is being evaluated. If you need some help in this area, give me a call. I’m happy to help.