Raleigh Q3 Real Estate Report: Home Prices

You have probably figured out by now that I like to analyze real estate market trends in Raleigh. In keeping with this, if you are considering a selling your home then you might be interested to know more about pricing your home for sale. According to the 3rd quarter Triangle Area Residential Realty Report from SMA Publications, our real estate market is not showing signs of recovery as sales in the first three quarters of 2010 have been below 2009. The TARR report is written by a leading, local real estate economist and one of the many resources we utilize.

Pricing your home correctly in this market is important because the longer you sit, the less you stand to make.

What happens when a house is priced correctly at initial list?
Good things. When final list price is equal to original list price, the average days on market for closings during the third quarter was 51 days and the house sold for 97% of list. When final list price is lower than original list, there is a days on market penalty. These houses sold in an average of 130 days and for an average of 86% of original list.
From Q3 2010 TARR Report Market Update by Stacey Anfindsen.

History of price drops in the 3rd Qtr of the years

History of price drops in the 3rd Qtr over the years

Every seller is in a beauty contest and a pricing war. I have everything you could possibly need to get the job done well if you are considering placing your home for sale. Extremely low mortgage rates and deflated prices make this a great market for moving up.

Linda Craft & Team’s advertising dollars invested in TV, radio, social media and Internet pay per click this year show our 2010 numbers improving in every category. We are focused on finding a buyer for your home.

Just leave a comment for me if you would like a full copy of the 3rd Quarter Report.