The current real estate market can be described as every man for himself. So we felt a jolt of excitement when we saw that real estate agent.com reported in his latest study that house prices are falling (or at least stagnating) in some metropolitan areas like Pittsburgh and Los Angeles (they are down 13.7 and 5%, respectively). But when we checked with the experts at Zillow, we learned that’s still not the case in most places. In fact, its economists saw home value growth break a record in March, with prices soaring 20.6% from the same period last year.
Fortunately, one thing is certain: there are more houses available. “Spring is the traditional home shopping season when most buyers enter the market, so we expect more sellers to put their homes up for sale at this time of year,” says expert Amanda Pendleton. trending at Zillow. Overall, stocks were up 11% in March from February, according to Pendleton. While this is great news for potential buyers, sellers may need some guidance. So we asked Pendleton and Daryl Fairweather, Chief Economist at Redfin, to share their top three tips to keep in mind when listing this spring.
Lower price to start
For some sellers, getting rid of their home quickly is more important than receiving competitive offers (read: above the asking price). Fairweather encourages busy owners to start their listing price at a price below the market standard. She says, “If the price is too low, you may get several offers above the list price, but if the price is too high, you may not receive any offers.”
Focus on great features
Due to the increase in inventory, it is essential to ensure that your listing stands out from other properties. The high-resolution, professional photography alone will draw people in, notes Pendleton. “Listings with a 3D walkthrough get about 50% more views and savings than homes without,” she reveals. Also mentioning upgraded appliances, heated floors, or even a pizza oven can get shoppers buzzing.
List on a Thursday
Not only can going on sale in April or May give your asking price a 2.8% increase, but Pendleton shares that even taking the day of the week into account – Thursday is best! – you put your virtual “For Sale” sign can add 0.3% increase. Play the long game and by the end of the weekend you might have a solid offer.