Greater Raleigh home sales improving?

Greater Raleigh Home SalesHome sales in August 2011 were 23% higher than the same time last year. It’s definitely a positive sign, but does it mean the Raleigh housing market is improving?

I spoke with reporter David Bracken at the News & Observer on Friday after he reviewed August home sales data. He was seeking further opinion about where the Greater Raleigh real estate market is heading.

Read Triangle home sales rebound and see what I had to say.

I’m excited sales numbers were better but the truth remains that to sell in this market your home has to be the best value.  Buyers have too many choices.

Linda Craft reported to our listing customers earlier this week that 624 new listings were added to MLS and 294 listings were sold last week. We both agree that we would love to start selling more houses than we list!

This does not mean you can run out the door and start making ridiculous offers on listed properties. Crazy offers really don’t get you anywhere. But, as a seller it means you need to listen to what buyers are telling you and respond quickly! I recently sold several properties with multiple offers by helping our sellers do just that.

There are still hot properties that are selling fast and there is a strategy as to how it is done.

In a tweet this morning from WSJ real estate reporter Nick Timiraos: Existing home sales were up in August by 7.7% from July. Should be short lived. How many contracts were signed in August — prob not a lot