Long Island Market Watch
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| March, 2012 |
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A Window of Opportunity Opens The Spring Season |
| Coldwell Banker Residential Brokerage |
With a lackluster winter nearly behind us, spring is definitely in the air. March is finally here and we are hopeful that this spring selling season will spring like never before. Already, we at Coldwell Banker Residential Brokerage are witnessing some very interesting and advantageous dynamics for home sellers. Depending upon the region, inventory has dropped from 13 to more than 20 percent compared to the same time last year, and in some communities, it has dropped significantly more. To determine if the same trend is taking place in your marketplace, look to the graph. When inventory levels drop, it signifies less competition for the home seller, and limited choice for the buyer. We know that there are buyers currently in the market who have financing, know market values and are prepared to make a purchase decision. They are standing on the sidelines just waiting for their perfect home to enter the market. For those who want to put their home on the market, but have been hesitant, waiting for prices to increase, or buyers to appear, this could be an incredibly advantageous time to finally make their move. For those who have lived in their home for some time and have built equity, selling this spring could be especially beneficial. For those homes currently listed, we are seeing movement. We are also seeing examples of multiple buyers for properties who have entered into bidding wars, ultimately driving the sale price upwards. Bidding wars typically take place when a home is priced competitively. With limited competition in the market, with a home that is priced accordingly, just imagine the possibilities. If you are thinking of placing your home on the market and are not quite sure if it’s the right time for you, call a Coldwell Banker Residential Brokerage sales professional today. Your sales professional will complete a competitive market analysis, review competing homes currently on the market, and will determine the inventory levels specific to your locale and price point. Now is not the time to wait if you want to list your home. There is a window of opportunity here and it is uncertain how long that window will remain open. Until it closes, let’s keep the fresh spring air flowing in.
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| ©2012 Coldwell Banker Real Estate LLC. Coldwell Banker is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Owned and Operated by NRT LLC. |
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ReplyDeleteCharles A