Did you know that right now there are only about 35 homes for sale in all of New Baltimore? Currently Chesterfield has around 87 homes for sale. Think about that for a moment. In August 21, homes closed in New Baltimore, and Chesterfield closed right around 36. That means that there is only about 1½ to 2 months of supply. I know what you’re thinking, "how does this affect me?" If you have been thinking about selling your home, the time is definitely now. You will command more money because of the limited inventory. You won’t have much competition, and the best part about it is you get to hire me for the job! Okay that was my attempt at humor or was it?
A lot of people that I talk to think that the market slows down after school starts. And the numbers show that it is true. But not to the extent that most think. From last September through December of 2012 over 175 homes sold in the New Baltimore-Chesterfield area and that doesn’t include condos or vacant land. We haven’t seen a sellers market like this in quite some time. Also, you have to keep in mind that the market changes rapidly. In 6 months to a year, it may no longer be a great market to sell in. A great indicator is the current interest rates. Early this year they were as low as 3.5%! Currently most are hovering in the 5’s. It may not sound like a big deal, but it greatly affects people’s ability to buy a home. Rates are very hard to predict, but most believe that they will continue to trend upward.
Are you worried that maybe you can’t sell? Almost everyone I talk to think that they’re still underwater on their mortgages. Most are very surprised when we talk about how fast home values have recovered in certain places. If that’s you let me know. I can put together a free market analysis to see what the value of your home is. And as always if you’re thinking about selling your home…...buying a home…...investing in real estate…...or starting a real estate career contact me today!
Chris Taylor
Keller Williams
586-524-1095
chris.taylor@kw.com
