A quick check-in for my local folks about the real estate market this past week.
It’s been busy and strong – with buyers getting out to view homes even though it’s been raining!
Mortgage rates have increased almost a point in the last few weeks, which will start to wear on buyers probably in the near term. The rates may go down and hopefully settle again in the next couple of weeks, but there are no guarantees in this mixed-up world right now.
Concord home market trends are about the same as many cities around here – shorter days on market and strong open house activity.
Currently, Concord has only 46 detached homes for sale, consistently running just under 50 homes for sale on average this year.
The good news is that 23 homes are pending in the last week in Concord! That’s a lot, given what we’ve experienced since August of last year. Those pending homes had an average days on market of 12. That’s the strength we feel in the market. Buyers are out there (rain or shine) and making acceptable offers! Sellers’ sentiment seems good, too.
Short story about our wonderful sellers of 2124 Dena Drive, Concord
I first met with them Feb. 13. They had tried to sell their home last year with a different agent who secured an offer for them. I won’t go into their private details, but I will share that they were keen on hiring an experienced agent this time who would give them solid advice about their home, pricing and this market.They interviewed two agents and choose to work with me and my team.
We quickly outlined a plan and timeline that was a bit aggressive (for most people, but not them).They were ready and although they thought that selling in May was their goal, we reviewed the current market and they agreed that now is the time to get their home ready again and on the market.
First call was to PODS to clear out some of the heavy furniture and items they would not need for the next few months. Next call was to the stager to provide a quote to mix in some of her stuff with their stuff and create a nice visual setting for this house.
Next up was my awesome teammate, Jana! She organized the calendar, disclosures, compliance items and managed expectations with consistent communication to all of us. Jana’s level of professionalism and expertise is unmatched in my world! The sellers love her and I’m grateful that she is such a big part of my everyday life and our customers go-to gal!
Once we had the house prepped and ready to go, along with a full set of disclosures and reports, we went live on the MLS (open market) a week ago. Two busy and successful open houses later, the sellers reviewed three solid offers last night and chose the highest and best for their needs and future financial goals.
They will enjoy a price far over their expectations and a full month of free rent back after the closing of this sale. I’m not sure if you heard it, but there may have been some loud celebrating over in that part of Concord last night.
Let me share with you that working with clients who trust you and the process that you propose is invaluable in this market right now. Building credibility based on years of experience, as well as having your finger on the pulse of the market today, allows your clients to fully understand each step of the process so that they can achieve their goals.
It truly is a team effort with everyone doing their specific part to successfully prep, promote, position and price a home for a market that is shifting quickly in these economical times.
I am so grateful for these opportunities! And I feel like Jana and I have made lifelong friends with our sellers! No better feeling in the world!
