If you have been giving any thought to selling your home, there are a few basic indicators you should become familiar with. When viewed separately these indices can offer different opinions on the current state of the housing market. However when they are collectively presented, they combine to create a simple “at a glance” snapshot of the current conditions of the Pasadena real estate market.

Selling Your Home?

Find out how you as a home seller can win in a Buyers Market! Before placing your home on the market, understanding these four barometers will insure that you sell your home quickly and for the highest amount possible. Step into a prospective home buyers shoes and consider these issues.

1. Inventory – simple supply and demand issue. More inventory this year indicates there are fewer home buyers looking for homes. How many homes are their in your price range (+ /- $50,000). Inventory levels have been very consistent this year, but also much higher than years past.



2. Days on Market - again trending much higher than last year. How long are you willing to wait to sell? Do you understand the longer your home is listed for sale, the less money you are likely to make? The first 30 days are critical in selling your home.



3. The Median Price – home prices have been steadily declining. Homes priced at market levels 6 months ago may find themselves higher than what the current market indicates. Are you pricing ahead or behind the market? Sellers who accept the fact the market has declined and price more aggressively will sell sooner.



4. Price Decrease – a much higher percentage of homes that have had to cut their price at least once in order to solicit an offer. Very indicative of a BUYERS market.
   

Before you list your house for sale, you must make the decision to sell your house. Many home sellers are having a tough time accepting the conditions of the current market. These graphs seem to indicate that. If you need to sell your home, give us a call, or Email me! We will be glad to help you through the current market conditions.

Graphs courtesy of Altos Research copyright 2008, Altos research LLC

Pasadena Real Estate References

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