2017 was a fabulous year for real estate, but it looks like the projections are even better for buyers and sellers—particularly sellers.
We did do some research and pulled some trend graphics. We can do this for any zip code. Not all Realtors utilize this kind of data, but we’ve found that it scientifically helps us net you more money for your home.
So, let’s take a look at the number of homes available versus the number of homes sold this year compared to 2016. In November of 2016, there were 1,142 homes on the market and 532 sold for San Joaquin County. This year, there were 967 homes active on the market and 666 sold homes, which means that we have a shortage of homes on the market.
This is great news if you are thinking about selling your home, but don’t be fooled. Anybody can sell your house, but if you want to get top dollar in a certain amount of time, you need to hire the right Realtor.
When hiring a Realtor, choose somebody that sells houses above market value. The numbers indicate that we’ve sold houses for 18% above the market value, which is huge.
In San Joaquin, the average days on market was 39, which is the same as last year. Inventory did slightly increase from 1.6 months in 2016 to 1.7 months in 2017, but we are still in a strong seller’s market.
However, since the FHA loan limits and conventional loan limits have increased, buyers actually have more buying power.
In Stanislaus County, there were 1,004 active listings and 416 sold homes in 2016, compared to 789 active listings and 430 sold homes this year. Shrinking inventory means more demand for the Stanislaus market as well. In 2016, the average days on market was 40, and this year, that number dropped to 35. Inventory did slightly increase from 1.7 months in 2016 to 1.9 months this year, but again, that is still a strong seller’s market.
Again, if you want to get top dollar for your home, you need maximum exposure. The right Realtor can sell your home for above market value.
If you have any questions about selling your home or would like some trend graphics for your specific neighborhood, just give me a call or send me an email. I would be happy to help you!