Kent and Sussex County Delaware Realty News

Tom Schoenbeck, REALTOR®
Keller Williams Realty Central DE
1671 S. State Street
Dover, DE 19901

Is This a Good Time to Sell?

Trend Market Report, Nov 24, 2007

While housing starts may be slowing down and almost come to a perceptable halt, the home resale market in Kent County remains strong and vibrant. Since January, the volume of listed homes has reached the $975 million mark with a current annual closing level reaching $380 million, a 38% settlement rate. In a nationwide 'buyer's market' this is a tremendous achievement and hedging ever closer to a 50-50 market balance. There are currently in excess of 1500 properties on the market in Kent County with an inventory volume of $437 million, for an average of $283,000 per listing.

If you are currently selling your home, you are in a great market as long as you have your home "in the market" not just on the market. Where you want to be is in that achieveable range of being in the market. Generally speaking, only about 20 to 30% of the homes being sold get sold within 6 months. And why? They are marketed by professionals like those at Keller Williams Realty who work with clients that listen to their advise. The number one reason for a home sitting dormant on the market is, you guessed it- price. If your home is listed for too high a price for the comparables, it's a sure bet your home will sit there with no offers and quite possibly, no showings. If your home is in this category, call your agent and reverse this trend. Remember, you may believe your home is worth a fortune, but you are not the one buying it. Ultimately, your home is only worth what the market will bear, and your immediate market is the buyer you hand your keys to at settlement. Cut the emotional ties and role up your sleeves. Approach your home sale like a business venture, listen to your agent, and get it sold!

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