June 2009 ~ Things are still moving in the right direction.

As we move out of the spring and into the summer we're still some very encouraging signs in the Northumberland Real Estate market. At a time when we would normally see sales figures start to decrease, they're going in the other direction. Up by 19 units (almost 19%) from both last year and last month. At the same time number of homes being offered for sale continues to track well below last year in fact it drop over the last 30 days.

So .. homes are selling faster than they are coming up for sale. Moving towards a balanced market.

Looking at the graph below we can see clearly that this year is producing a completely unique pattern.

While we are trending towards a more balanced market, BUYERS still have a tremendous advantage.



As has been the case for most of the year, homes that are priced to where the market indicates are the ones that are selling. That's not to say the cheapest or lowest price is the one that gets bought, but it's important to remember that with so much available to choose from, Buyers have the ability to shop and compare. Still willing to pay for what they consider value, but not willing to pay what they consider too much for lesser locations or homes that are not in the best condition.

Now more than ever it's critical to do the work of pricing at the front end of the selling process, considering price with a complete understanding of what is happening in the market will greatly increase the probability of success.

If you have any questions just give me a call.

Dave

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