Early 2018 Is A Golden Opportunity To Sell Your Home

Early 2018 a golden opportunity to sell your home.

No better time to list your home for sale than early 2018. Get it done before the spring rush and the move toward a more balanced market

I’ve spoken to several people lately who are thinking about selling their homes in 2018. If you are one of those who have been sitting on growing equity and are feeling the urge to downsize, upsize or relocate, early 2018 is a golden opportunity to sell your home. We have been in a strong sellers market for going on 2 years now and 2017 found it growing stronger. The number of properties for sale is down 12% from this time last year, meaning considerably less competition for sellers. The autumn increase in homes for sale typically seen was more of a whimper than a bang. Putting your home on the market in the next 2 months is a brilliant strategy and we certainly do expect to see that early 2018 is a golden opportunity to sell your home

Especially if the value of your home falls within the $150,000 to $275,000 price range, you can anticipate lower than average days on market (the time it takes to get a buyer under contract). The lower the price point, the more likely you will see multiple offers. In fact, homes under $200,000 are becoming such a rare find, that my buyer clients know that if you have to sleep on it (making an offer), you likely won’t sleep in it! You will also be looking at a higher sale to list price ratio – you will get closer to your list price than you would in a more balanced or buyers market.

Why else do I believe early 2018 is a golden opportunity to sell your home? Because waiting until spring will very likely increase the number of homes on the market that will be competing with your home. Over the past four years, I have found the period of March through May to be the most active time in my practice for home listings. Since we will have a low inventory hang-over from 2017 without the autumn bump, listing  before the typical spring home sellers means buyers will give your home much greater attention.

And the sellers market doesn’t stop at $275,000. The only price point at which we are seeing more of a balanced market, is the 1.5 million dollar homes (see search below). And the higher above that mark you go, the weaker the market becomes for sellers. In other words, if you’re in the market for a 6 million dollar home, you will find homes on the market for extended periods of time and you will have significantly more negotiating power.

In real estate, as in nature, nothing lasts forever and things tend to be cyclical. Two years is a long time for sellers to be in control of the market. We do anticipate that the pendulum will swing back. In fact, most forecasters are anticipating a slow down in appreciation in the Phoenix metropolitan market, and a return to a more balanced market. Early 2018 truly is a golden opportunity to sell your home. Let’s get going!

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8100 N 68th Street, Paradise Valley 85253, Camelback Country Club Estates

  • $16,500,000
  • Bedrooms: 5, Baths: 7.5
  • Home size: 17,912
  • Lot size: 92,528
  • Year built: 2016
  • MLS #: 5701342
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6659 E Indian Bend Road, Paradise Valley 85253, Judson

  • $18,974,888
  • Bedrooms: 8, Baths: 16
  • Home size: 26,393
  • Lot size: 70,630
  • Year built: 2018
  • MLS #: 5725463
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5335 N Invergordon Road, Paradise Valley 85253, Camelback Lands

  • $16,950,000
  • Bedrooms: 6, Baths: 13
  • Home size: 25,851
  • Lot size: 85,912
  • Year built: 2013
  • MLS #: 5676395
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8055 N Mummy Mountain Road, Paradise Valley 85253, Mummy Mountain Estates

  • $16,500,000
  • Bedrooms: 7, Baths: 12
  • Home size: 25,416
  • Lot size: 219,232
  • Year built: 2006
  • MLS #: 5165200
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, New River 85087, Parcel #'s 202-22-457-A 202-22-016-B

  • $16,000,000
  • Bedrooms: 4, Baths: 2
  • Home size: 19,161
  • Lot size: 1,098,796
  • Year built: 1997
  • MLS #: 5584412
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All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.

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ARMLS Listing Data last updated 4/22/2018 1:04 PM MST.
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