The National Association of Realtors surveyed their members & released the findings of their Profile of Home Staging.
62% of seller’s agents say that staging a home decreases the amount of time a home spends on the market.
50% of staged homes saw a 1-10% increase in dollar-value offers from buyers.
77% of buyer’s agents said staging made it easier for buyers to visualize the home as their own.
The top rooms to stage in order to attract more buyers are the living room, master bedroom, kitchen, and dining room.
Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist & ABR – Accredited Buyers and Seller Representative who can help you navigate thru the process and get the job done for you. He can provide you with a Free Market analysis when you are ready. Pete Veres has had over 25 years of Sales & Marketing experience, excellent negotiating skills and a superb track record.
You can contact him by calling or texting him at 505-362-2005 or by emailing him at [email protected].
He has a great website full of the latest information at www.NMElite.com
Spring Home Sales Back on Pace as Price Increases Moderate
DENVER – April home sales finished just 1.1% below a year ago as selling times shortened and tight inventory held steady, according to the RE/MAX National Housing Report. Meanwhile, April’s median home price of $251,000 in the report’s 54 markets was up a mere 2.1% - the smallest year-over-year April increase in eight years.
April’s year-over-year sales decline of 1.1% marked the ninth consecutive month of year-over-year decreases, but April’s sales dip was the smallest during that time. At the same time, inventory increased 4.8% and marked the seventh consecutive month of year-over-year growth in number of homes for sale.
Compared to March, home sales in April sped up by a full week, taking an average of 52 days instead of 59. The average in April 2018 was 51 days. The Months Supply of Inventory in April decreased year-over-year from 3.0 to 2.6.
While the March-over-February increase in home sales of 28.8% was the smallest in five years, the April-over-March increase of 11.2% was an April-over-March record for the 10-year history of the report.
“April’s home sales blossomed, suggesting the typical seasonal jump in spring sales arrived later than usual this year,” said RE/MAX CEO Adam Contos. “Solid buyer interest and sellers with realistic price expectations advanced the market’s march toward equilibrium last month. That said, inventory remains constricted, and prices continue to climb, albeit at a slower rate. All in all, April’s results were encouraging, and we continue to be cautiously optimistic about the prospects of a healthy spring selling season.”
Closed Transactions Of the 54 metro areas surveyed in April 2019, the overall average number of home sales is up 11.2% compared to March 2019, and down 1.1% compared to April 2018. Leading the month-over-month sales percentage increase were Augusta, ME, at +30.4%, Des Moines, IA, at +23.6%, and Milwaukee, WI, at +22.9%.
Median Sales Price – Median of 54 metro median prices In April 2019, the median of all 54 metro Median Sales Prices was $251,000, up 2.1% from March 2019, and up 2.1% from April 2018. Three metro areas saw a year-over-year decrease in Median Sales Price: San Francisco, CA, at -1.4%, Seattle, WA, at -1.0%, and Anchorage, AK, at -0.3%. Four metro areas increased year-over-year by double-digit percentages, with the largest gains in Boise, ID, at +14.8% and Birmingham, AL, at +13.8%.
Days on Market – Average of 54 metro areas The average Days on Market for homes sold in April 2019 was 52, down seven days from the average in March 2019, and up one day from the April 2018 average. The metro areas with the lowest Days on Market were Omaha, NE, at 27, and Denver, CO, and San Francisco, CA, both at 30. The highest Days on Market averages were in Augusta, ME, at 116, Hartford, CT, at 89, and Miami, FL, at 86. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed.
Months Supply of Inventory – Average of 54 metro areas The number of homes for sale in April 2019 was up 3.3% from March 2019 and up 4.8% from April 2018. Based on the rate of home sales in April 2019, the Months Supply of Inventory decreased to 2.6 from 2.9 in March 2019, and decreased compared to 3.0 in April 2018. A six months supply indicates a market balanced equally between buyers and sellers. In April 2019, of the 54 metro areas surveyed, only Miami, FL, at 6.3 reported a months supply at or over six, which is typically considered a buyer’s market. The markets with the lowest Months Supply of Inventory were Boise, ID, Denver, CO, Manchester, NH, and Omaha, NE, all at 1.2.
Feel free to contact me and I can help break down exactly what these numbers mean for our local market and for your neighborhood. And lastly, If you or anyone you know is thinking of buying or selling a home - please call or email me. I'm here to help!
