Kathy A. Torline-Nordstrom
ERA Herman Group Real Estate
Serving Colorado Springs
No showings in today’s fast paced real estate market, means that you’ve priced your home incorrectly.
Even through the Colorado Springs real estate market has moved up considerably in the last year, it’s still not the same as the market was in 2006, during the top of the market. Some sellers still think that their house is worth what it was at the top market, which is most cases is not true.
Listings that are priced correctly will get showings. If a property isn’t getting any showings, the market is telling the seller that the property is priced wrong. I always remind both sellers, and buyers, the market really determines the price of a property, regardless of what they think the property is worth. The best way to come up with accurate pricing is to look at recent sales for comparable properties in the same area, same subdivision; and it’s important to look at recent information. This can be more challenging then it sounds, as there may only be one ranch style house in the same neighborhood, or there may not have been any sales in the neighborhood for a couple of years, when the market was much different. A skilled Realtor can put together a comparative market analysis (CMA) which can help with pricing a property correctly for the current market conditions.
Even though both the number of homes sold and the average sale price for Colorado Springs homes are up from last year, there were still 98 homes that were expired listings in the last 30 days. Essentially that mean that these homes weren’t priced correctly for the current market conditions.
To find out more information about Colorado Springs, Call ……
Kathy (719-287-1049) [email protected]