Mistake #5 - Mistaking Lookers for Buyers:

In the last 30 days, 225 single family houses were sold, up 3.2% from last week.  The median price is down 0.6% to $547,900. The average house was on the market for 49 days, 1 days less than in my last report. Although the volume of sales is increasing slightly, we are seeing a corresponding slow decrease in selling prices.

In the last 30 days, 111 condos were sold, down 4.3% from last week.  The median price is down 0.5% to $278,700. The average condo was on the market for 61 days, 6 days less than in my last report. Both volume and selling prices are dropping due to a relatively high inventory level.

In the last week, the local inventory of single family homes has increased by 0.3% to 1471 homes.  Condo inventory has risen by 0.4% to 797 suites.  Overall, SFH inventory is stable or dropping slightly while the condo inventory is growing.

Buying a home can be an emotional and stressful decision, and potential home buyers don’t want to feel pressured when viewing a home. So, let your home speak for itself.  Vacate your house during showings.  Allow potential home-buyers to comfortably view the house and property. Don’t try haggling or pointing out every improvement you’ve made. Good Realtors let buyers discover the house for themselves, only pointing out features they’re sure will be of interest, and being receptive to any questions the buyers might have.

In the last week, the local inventory of single family homes has dropped by 6.5% to 1467 homes.  Condo inventory has fallen by 7.1% to 794 suites.  Inventory is getting pretty low, as we see each year, as Christmas approaches.