Dublin Ranch Homeowners are Learning a Valuable Lesson.
If any recent month served as a reminder of the importance of listening to the market, it was June.
The latest data confirms that June was a tough month for many Dublin Ranch homeowners who were trying to sell their homes: The “days on market” median shot up to 34 (a relatively high number when compared to 13 days in May and 18 in April) which reflected a stubborn difference of opinion between sellers and buyers when it came to price tags. Perhaps unsurprisingly, last month also had the highest number of expired properties in over a year. This second detail suggests that quite a few homeowners refused to budge on the listing price, despite an established year-long trend of homes closing for less than marked price.
For those homeowners who were willing to work with buyers, many enjoyed the fact that more properties sold in June than in any of the previous 12 months. Even more reassuring, the median closing price remains at one of its highest points in the past year (a healthy $860,000, which is only eclipsed by a very similar $870,000 in April). It would seem that most buyers aren’t looking to trick homeowners into settling for rock-bottom prices, but they are weary of dealing with sellers who demand more for their home than anybody is willing to pay.
So are local homeowners beginning to heed more conservative advice? Possibly. We do know that the average “for sale” and “sold” prices are beginning to converge and are closer than they have been in months. If they were to meet, it would mean that houses are priced precisely where buyers are willing to pay. That could lead to less frustrating disconnect between buyer and seller, less time on the market, and a lower chance of properties expiring.
Some real estate companies just want to sell your house. But if you want to maximize the return on your hard-earned equity, it’s important to work with a team that can help you carefully assess the market, see what it is capable of, and place your house in the best possible light. Lifestyle Real Estate can help with these kinds of things, and give you peace of mind that you’ll be getting exactly what you deserve.