If you’re curious about the price your home might fetch these days, the monthly Market Report Connie publishes might just become your best friend.
Home prices in your neighborhood are key indicators of your home’s competitiveness in the market. Of course, your home’s unique features are not to be ignored, but local market conditions are the foundation for competitive pricing. And, competitiveness, ultimately, is what determines how quickly — or, whether, at all — your home sells.
There are a few other factors – average price per square foot, number of properties for sale, days-on-market, number of homes sold in your specific area, and others – that are also crucial. They are all captured in the Market Report. (And feel free to ask me for a Market Report for your specific area in Greater Los Angeles.)
Finally, our weekly/biweekly #NewListingMonday posts are also useful. They not only describe recently listed homes’ square footage, lot size, features, and prices (both in Santa Monica and Beverly Hills), but if you pay attention to new listings trends week to week, you should be able to develop a sense of whether your market has been low in inventory, or saturated, the past few weeks and months. (If you don’t develop a sense, feel free to reach out to me – I welcome your call.) This ought to help greatly in deciding whether to sell, or buy, and how to price your property.
UPDATE: Below, we’ve added the September ’15 Santa Monica Market Report. (The August 2015 report is below as well).
If you’re curious about Beverly Hills or another area, get in touch with me!