Tag Archive | "marketing statistics"

Timely Price Reductions And Standing Out From The Crowd

Timely Price Reductions And Standing Out From The Crowd

I always wax nostalgic during late August and early September.  It reminds me of new school clothing and the excitement of seeing friends again. It also reminds me of renewal and new opportunities.  In real estate, it has a similar cycle, one of breaking away from the general malaise of summer into fresh opportunity.  Coming into September brings hope to sellers for a new batch of buyers and excitement to buyers for a new batch of listings, or at least listing reductions.

So, let’s talk about reductions and what happens during the summer in a typical year. We experience a slow-down in new listings and the market generally reflects the distractions of Summer. Sellers who had such excitement at the prospect of the Spring market may now become victims of the Summer. Despite possible signs of pressure on pricing they often hesitate because of lack of showings and the fear of making an unnecessary reduction.

The energy shift begins to take place in early August as sellers begin to think about having their home on the market during the holiday season and the countdown to of the end of the year.

September immediately becomes a popular month to reduce, resulting in an overload and the fight for attention.

So, we have two weeks before the crowd of reductions for those sellers who want get to the finish line before the end of the year.  Buyers are out there looking for value. They track the market and watch for the reductions that are significant and home prices that are compelling.

It’s easier to get ahead of crowd and secure the attention of your potential buyer by making reductions earlier. Why not be one of a few making reductions now versus fighting the crowd of adjustments that are about to take place in two weeks?

Posted in Westport Connecticut, Westport Connecticut Real EstateComments Off on Timely Price Reductions And Standing Out From The Crowd

Sellers Fairing Well In Lower Price Ranges in Westport Connecticut

A price distribution report for Westport Connecticut shows us how quickly our inventory is being absorbed into the market (through sales). Despite popular belief, some price ranges are either geared toward sellers or are balanced between buyers and sellers. Lower price points have been more well-balanced in the past year. However, $700,000-$749,900 is oddly at 2 years of supply. This could be a result of this being a popular price point in contiguous, more well-valued towns such as Fairfield. Any supply time of 6 months or less is encouraging to sellers with the prospect of a buyer coming in and beginning the negotiation process. We have some very consistent, fast-moving price ranges, particularly in the middle of the market: $1,200,000-$1,299,000. Inventory in this price point tends to fly of the shelves and condition is not as important of a consideration to a buyer. The brakes get slammed on at $1,400,000 and buyers are showing considerable resistence. For the most part, luxury buyers are relunctant and extremely discriminating when it comes to placing offers and making purchases. In some cases, we will be trying to rid the market of a severe over supply of listings in the upper end for many years.

 

 

 

 

Posted in CT Real Estate, Fairfield County Real Estate, Westport Connecticut, Westport Connecticut Real Estate, Westport CT RentalsComments Off on Sellers Fairing Well In Lower Price Ranges in Westport Connecticut


Buying, Selling Or Renting In Fairfield County Connecticut? Contact Us At (203)253-9222

FreshPickedRealEstate.com is known as "Fairfield County CT's Favorite Real Estate Blog". We feature market statistics, community events and interesting happenings in and around lower Fairfield County Connecticut, including Westport, Weston, Wilton, Norwalk, Fairfield and Easton. Look for real estate tips with a focus on "green living" in the area.
Contact me at MelissaBrownRiley@gmail.com or at (203)253-9222 for info on all real estate services, including buying, selling or renting in Fairfield County, Connecticut or in any other county or state through our national network. We also specialize in buying or selling "short sales" and foreclosures.

Search Like An Agent For A Home Or Rental

Do you think online marketing makes a difference in exposing your home to the market?

According to the National Association of Realtors, 91% of all buyers begin their search on the internet. As a seller, having a definitive online strategy creates a differentiation to maximize your exposure to the right target market. I offer 31 years of real estate experience with a strong technology twist and focus on utilizing Google to attract attention to your listing. Find out how we can create an advantage for you.

Investors from New York Searching In Fairfield County

Are you an investor from New York looking for well-valued properties in Fairfield County? We will pair you with an experienced agent who can assist you in your search. Melissa Riley (203)253-9222. Berkshire Hathaway HomeServices-New England Properties

Luxury Rental Listings Are Needed

Fairfield County, including the towns of Westport, Weston, Fairfield, Easton, Wilton and Norwalk are highly desirable towns for rentals.
We are experiencing a lack of quality luxury rental listings in lower Fairfield County. We have tenants looking for rental properties that fit their needs.
We will assist you with establishing the rental value on your home and helping you through rental process. Proper representation is the core of our business and I we zero in on your needs no matter if you are landlord or tenant.

Closing Cost Estimator

Loan Information
Loan Amount $
View/Edit Closing Cost Details