A wild month in July for real estate sales

July was another busy and crazy month for real estate sales in Snohomish County.  A whopping 44% of all listings sold for over the list price – averaging 3% over the listed sales price.  This does not mean that you can list your home at any price you choose and get a higher offer.  These homes that are selling for over list price are pricing their homes to sell, and the market is telling them they have done a good job in pricing.  The average market time for these homes was 6 days.  The market (buyers) are very savvy on pricing these days, and that is reflected on the homes that sell fast, and those that don’t.

38% of the homes that sold in July did so for less than the list price, or had to lower their price before selling.  Those that had to lower their price before selling took, on average, 55 days to sell.  So, the question is, could the sellers that had to lower their price before selling actually have received more for their homes if they had priced it right the first time…and possibly received multiple offers with the price being escalated?  The current stats point to that being a possibility.  The key is to listen to your Realtor when deciding on a price to list your home.