2nd Quarter 2011 Market Update

How is the real estate market doing in River Chase subdivision?  A professional overview:

• More homes have sold in the second quarter of 2011 than in the first quarter.
• Overall, there has been a decrease in list to sale price percentage.
• The number of days on market has decreased in the second quarter, over the yearly and six month average. 

What does this mean???  Let's address the number of homes sold in the second quarter first.  Only 2 homes sold in River Chase for the first quarter of 2011, while 4 homes sold in the second quarter.  Though River Chase is experiencing a slow year in real estate, activity has doubled for the first half of the summer selling season.  It will be interesting to see how the summer finishes up in the 3rd Quarter Market Update.

Why has there been a decrease in the list to sales price percentage?  This is not necessarily a bad thing.  This does not necessarily mean that people are getting less than market value for their homes.  There are two possible reasons for this decrease:  1)  As much as a real estate agent can suggest a list price for a home, based on market statistics, the home owner has the control to make the final decision on a price for the house.  Sometimes, the price that the home owner wants, does not fit the demand on the market. The house sold for the price that it should have been listed for, based on comparable data in the market.  2)  There are more sellers than buyers interested in the River Chase subdivision.  Buyers have a lot to choose from, and are able to negotiate the best prices for homes with sellers that have flexibility in their equity.

If the real estate market is slow in River Chase...when why are homes selling faster?  Summer time is traditionally the busiest season for real estate.  When school is dismissed for summer, buyers are eager to begin looking for homes and move before the start of the next school year.

What if you are interested in selling your home in River Chase?  It is a good time to sell if you have the flexibility in the equity of your home, or budget, and are able to price the home to sell.  We are in a buyers market, and if you are looking to downsize, or move up to another house, then a good deal can be found on your next purchase.  Interest rates are at a historic low, with indications of increasing soon, and then you would become a player in a buyers market.  For more information how you can save money by selling now, contact me at 830-609-8877 or ValerieTolbirt@yahoo.com.