Strategic pricing is the key to selling your home at an attractive price in an acceptable amount of time. While many brokers will gladly list your home, the reality is if it is not properly priced your home may sit on the market month after month and actually help sell competing properties.
At Ebby Halliday, our Associates take pricing your property very seriously. Your Ebby Associate will utilize Multiple Listing Service data to create a Competitive Market Analysis that estimates a market-value range for your home based on the recent action of buyers and sellers in your neighborhood. A few of the factors your Ebby Associate will consider when estimating your property’s market value:
*Successfully sold homes – Lists the selling price of recently purchased homes comparable to yours.
*Competitive properties for sale – Since they are not yet sold, the market value is undetermined, but they are important, as buyers most likely will view and compare these properties with yours.
*Pending sales – Though they have not yet closed, homes under contract are a good indicator of value in the current market.
* Failed to sell – The listed price of these homes suggests what potential buyers will not pay.
If you’re curious about what your home is worth in North Texas’ fast-paced housing market, visit the award-winning ebby.com, where you’ll find just the right real estate professional for your needs.
Nationwide, existing-home sales rose 2.4 percent in July over June, according to the National Association of Realtors. Sales are at the highest pace of 2014 and have risen four consecutive months.
Lawrence Yun, NAR chief economist, says sales momentum is building behind stronger job growth and improving inventory conditions. “The number of houses for sale is higher than a year ago and tamer price increases are giving prospective buyers less hesitation about entering the market,” he said. “More people are buying homes compared to earlier in the year and this trend should continue with interest rates remaining low and apartment rents on the rise.”
Nationally, the median existing-home price for all housing types in July was $222,900, which is 4.9 percent above July 2013. This marks the 29th consecutive month of year-over-year price gains.
In North Texas, the median existing-home price for all housing types in July was $194,000, which is 6.2% percent above July 2013.
To see all of the homes listed for sale in North Texas, not just those listed with Ebby Halliday, visit the award-winning ebby.com.
Dallas-Fort Worth home prices were up 5.2 percent in the second quarter from a year ago, according to the latest National Association of Realtors survey.
Nationwide, prices were up 4.4 percent – the smallest such increase since 2012, according to NAR. The biggest year-over-year increases were both in Oregon, with Salem at 24.9 percent and Eugene at 18.1 percent. Prices were up in 71 percent of the markets surveyed.
Analysts have been forecasting a slower rate of home price growth this year. D-FW home price gains have cooled substantially from the 9 percent rise in the first quarter.
“At this slower but healthier rate, homeowners can continue steadily building equity,” says NAR economist Lawrence Yun. “Meanwhile, for buyers, increased supply with moderate price gains is giving them better opportunities to choose.”
Nationwide median sales prices in the second quarter were at a record $212,400. In the D-FW area that number was $191,300.
Dallas-area home prices were up 11 percent in March from a year earlier, according to a report released today by CoreLogic Inc.
The Dallas-area gain was about the same as the 11.1 percent nationwide increase. A shortage of homes for sale in many markets – including North Texas – is fueling home price gains.
The biggest annual home price increases in March were in Riverside, Calif., 20.9 percent, and Los Angeles, 17.1 percent.
“Colorado, the District of Columbia, North Dakota, South Dakota, Texas and Wyoming all surpassed their previous home price peaks in March 2014,” according to the report. “In all, 23 states and the District of Columbia are at or within 10 percent of their peak home price appreciation.”
If you’re considering listing your North Texas home, contact an Ebby Associate to learn more about the real estate market in your neighborhood and to find out what your property is worth in today’s fast-moving market. To find the right agent for your residential real estate needs, visit the website voted one of the industry’s best by the Web Marketing Association, ebby.com.