NORTH ROYALTON MARKET REPORT 2007 VS. 2008 CLOSED SALES
Grretings,
There is no question that it has been a challenging year in real estate, and 2009 will be plagued with many of the same problems i.e. short sales, foreclosures, financing difficulties , and appraisals that fall short of the purchase price, BUT HOMES DID SELL IN 2008 AND THEY WILL SELL IN 2009.
Sellers must make pricing their home CORRECTLY a top priority. In 2008, we saw asking prices vary widely as it was difficult for many sellers to accept the downturn in the market. THE HOMES THAT SOLD WERE THE ONES WITH REALISTIC PRICES. THE FACTS THAT MATTER WHEN PRICING YOUR HOME ARE THE SELLING PRICES OF OTHER HOMES IN YOUR AREA, followed by condition and location.
Below is a chart that shows CLOSED homes in 2007 vs. 2008. Throughout most of 2008, you will see that fewer homes sold than in 2007, with a few months being equal. This can certainly be attributed to the tightening of the mortage belts, sellers staying put instead of downsizing or upsizing, buyers not buying over fear of losing their jobs, just to name a few.
PRICING IS EVERYTHING. FIND AN AGENT WHO WILL GIVE YOU AN ACCURATE LISTING PRICE EVEN IF IT IS NOT THE PRICE YOU WERE HOPING FOR.
FOR MORE INFORMATION ON THE CITY OF NORTH ROYALTON VISIT THEIR OFFICIAL WEBSITE. THERE YOU WILL FIND INFORMATION ON ECONOMIC DEVELOPMENT, PARKS AND RECREATION, AND THE COMMUNITY PROFILE, JUST TO NAME A FEW.
IF YOU ARE THINKING OF BUYING OR SELLING A HOME THIS YEAR, CONTACT BARB SZABO. I'D BE DELIGHTED TO TALK WITH YOU.
Regards,
Barb