How Does Our Market Currently Look?

We’ve been getting asked about the market a lot lately. We’ve got some advice to share with you today whether you are thinking of buying or selling.

I often get asked about the current status of the market, so I wanted to dive deeper into that topic today. As you know, 2016 ended with a bang. Nearly every community in our region posted a higher sales volume and higher average price in 2016 than they did in 2015. The question is, “Where are they headed now?”

Keep in mind that when talking about real estate, we are always in a cycle. In 2008, we saw prices bottom out. Since then, they’ve been going up. They are still going up now, but how do we know when we’ve reached the peak? The truth is that we don’t know and we won’t know until prices start coming down. On the other hand, we don't know we’ve bottomed out until prices start going up.

We won’t know we’ve peaked until we start declining.

As you can see, it’s nearly impossible to time the market. If you’re thinking about selling your home and wondering if you should wait longer, you should know that. Even those of us that study it for a living can’t time it. The best thing you can do is find the middle ground where the market is either slightly going up or slightly going down. Those small, fractional changes won’t affect your bottom line significantly.

The question for sellers is if we can get the best price for your home. The question for buyers is if you can make sure you don’t overpay at the peak of the market. To answer these questions, you need one of our team members to sit down with you and talk about the specifics regarding your sale or purchase.

We need to look at all the things important to you, including interest rates, the condition of your home, and more so that we can determine whether now is a great time for you to buy or sell.

We are never here to push you towards buying or selling. Our goal is to give our consultation services to you and help you make the right decision. We want you to be a client for life and we don’t want you to miss any great opportunities.

If you have any questions for us or if you’re thinking about buying or selling, we would love to hear from you. Just give us a call or send us an email.

How Did Our Market Fare in 2016?

Now that the new year is underway, I wanted to give you a look at the fantastic numbers our real estate market ended with in 2016. 

I’ve got some great news! Last year was fantastic for our real estate market and I’ll give you the full 2016 recap today. 

In the Philadelphia suburbs, we saw these statistics related to home sales for the following counties:

Chester County is up 14% in home sales year after year, which means we sold 14% more homes in 2016 than in 2015. The average sales price also increased by 3%. 

Delaware County has similar numbers as it saw a 13% increase in home sales from 5,255 homes sold in 2015 to 5,800 in 2016, and the average sales price increased by 2.5%. 

Montgomery County’s numbers are up with a 12.5% increase in home sales and a 5% increase in average sales price. 

Finally, New Castle County boasted the most significant home sales increase with almost 16% more homes sold in 2016 than 2015 and an increase in average sales price of just over 1.5%.

The real estate market has proven to have hit its stride in its recovery. Home prices are almost back to where they were in 2007, so if you’re thinking about selling or you need an updated market value for your home, please keep in mind that all real estate is local. The up-to-date information on your home will be based on the specific area you live in. 

The real estate market has proven to hit its stride in its recovery.

If you would like to get the up-to-date value of your home, or if you have any other questions, don’t hesitate to give me call or send me an email. I would be happy to help you! 

We Are Excited for 2017 and You Should Be Too

We look forward to many things in 2017. One of them is the launch of our new client appreciation program.

As we begin 2017 and say so long to the previous year, we want to thank you for your support in 2016. Last year, we helped nearly 300 families buy and sell real estate. We are proud of that accomplishment, but we are even more proud of the relationships we have built. 

With that in mind, we look forward to rolling out our new client appreciation program this year. We want our clients, friends, families, and raving fans to know they’re appreciated for their business and their referrals. Keep an eye out in your inbox for some cool events that are coming up. 

We are rolling out our client appreciation program this year.

You’ll also be able to see some of our charitable giving. When our company is successful, we reinvest in the community. We’ll keep you updated with our efforts there as well. We hope that 2016 was good to you and your family, and we look forward to an even better 2017 for everyone. 

If you have any questions or any real estate needs at all, give us a call or send us an email. We look forward to hearing from you.