In such an unusual year, many of you are still trying to figure out if now is the right time to make a move. I’d like to share with you a couple of the sentiments that I’ve been hearing amongst my agent network for sellers who are waiting to list:
1. Active buyers are more serious than ever before. People have spent the last 5 months realizing the inadequacies of their home. The buyers who are looking right now, in the middle of Covid-19, are very motivated to get a transaction done and take advantage of the historically low mortgage rates.
2. Compass Concierge can help you sell faster. Compass Concierge fronts the cost of home improvement and staging with no money upfront and no interest. Concierge homes sell faster - up to 30% faster in 2020 than non-Concierge homes - and for a higher price.
3. We don’t know what the future holds. Don’t take this buyer demand for granted. This unprecedented year is far from over — the election and ongoing pandemic could freeze real estate activity again, making it harder to sell afterward. And if your home may require some home improvement services to shine, it’s time to take advantage of this moment when we know that contractors are still allowed inside the home.
As always, if you'd like a more tailored look at how the market is playing out in your neighborhood, just let me know. Meanwhile, here is what happened last month in some of the cities where I specialize.
* Atherton - 7 sales, 95% to list price, 20 average DOM
* Belmont - 27 sales, 102% to list price, 15 average DOM
* Burlingame - 18 sales, 99% to list price, 18 average DOM
* Foster City - 9 sales, 101% to list price, 12 average DOM
* Hillsborough - 18 sales, 99% to list price, 25 average DOM
* Menlo Park - 28 sales, 103% to list price, 9 average DOM
* Palo Alto - 43 sales, 98% to list price, 17 average DOM
* Redwood City - 61 sales, 102% to list price, 15 average DOM
* San Carlos - 37 sales, 103% to list price, 14 average DOM
* San Mateo - 54 sales, 101% to list price, 14 average DOM
* Woodside - 10 sales, 94% to list price, 76 average DOM
IMHO*: I’ve learned in the past 25 plus years of selling houses to take each bit of news as it comes. July brought signs that there is still demand for housing along the SF Peninsula. Give me a call and let me help you with a strategy that is right for you. (*In My Humble Opinion – which I’m always happy to share.)
Nancy Palmer, CRS
Broker Associate
REALTOR®
DRE #00525350
Compass | Woodside
D 650.492.0200 | O 650.529.1111
www.NancyPalmer.com
