Here are the key numbers to know from the July real estate market.
The latest numbers are in for the Desert real estate market, so today I have a quick recap of the most important statistics you need to be aware of. This July, we saw:
1,061 sold units, up 40% from last year
25 average days on market, down from 56 last year
791 available units. Our normal average for this time of year is near 2,700
The median price is $599,000, 30% higher than July 2020
Attached condo prices are up by 37% from last year
The high-end market is doing great right now as well. We saw 157 home sales in the $1 million and above market last month. That’s up from 67 in July 2020.
The big question for sellers is, “How do I properly price my home in a market like this?” You want to get plenty of showings and buyers without leaving money on the table.
“WE WANT YOUR HOME TO BE A MUST-SEE FOR BUYERS IN THE MARKET.”
I use what I call the “sweet spot” strategy for pricing. I bring a comparative market analysis when I meet with sellers about pricing. Then we review the active listings, pending listings, and closed sales from the last three months to give you a better idea of the price.
We’ll see what buyers are willing to pay for similar properties and what the competition is priced at right now. You don’t want to come in too high and cause your competition to sell. We want to price your home so it will be a must-see in the eyes of buyers.
After this meeting, we have a good idea of where to price your home. We have to price it at a number where we can get the most showings and most offers. A seasoned professional like myself is really going to help you out in this kind of market because I’ve seen everything and I know how to handle any issues should they arise.
If you have any questions for me about these numbers, selling your home, or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.