Pushing the Limits
In a hot market like we have this year, sellers are pushing listing price limits, attempting to capitalize on the rising sale prices. In 2017 from Jan-May, the market appreciated almost 11%. This year from Jan-May, average sale prices increased an astounding 17.5%. When selling your home, it’s critical to consider the market trends for the time of year. Historically, prices rise heading into summer, which could justify pushing the listing price, but push it too much, and you could be left high and dry. Closed sales and prices normally cool off after July as we leave the hot summer. Consider your listing strategy carefully if you plan to list in the month of July or later because a price that’s too hot may leave you with the cold feeling of an unsold home.