Local Property Sells in Less Than an Hour - Seller's Market in Alta and Storm Lake Alive and Well - For Now
We are in a Seller's market, but it is changing fast. The last 2 properties I listed, above on the left, 1610 Peterson Street (Alta) $153,900 - 1500 sq/ft 4 br and 2.75 ba and on the right 112 N. Emerald (Storm Lake) $145,000 - 1392 sq/ft 3 br and 1 3/4 ba sold quickly. Emerald sold within an hour of listing and Peterson sold within a day of listing.
I plan to list another on Monday and I have 2 Buyers looking for a home with that criteria. Another agent I work with wants to get into my new listing as soon as the ink is on the contract.
What gives? It is a Seller's market, in other words there are not a lot of properties on the market but we are getting more every day and soon it won't be a Seller's market (more Buyers than properties)it will even out and probably become a Buyers market (more properties available than Buyers).
My properties have tended to sell fast because I do a competitive market analysis that defines a very accurate range the market will pay for any given home or building. I have a detailed plan including checklists to get a property ready, a number of websites expose my properties to out-of-state and local Buyers(including this blog), I work with the top agents, I use extensive marketing to reach multiple Buyers, I stay connected and active in the community and most important, I won't list an overpriced property.
If you want to sell and take advantage of the local Seller's Market the best time is probably within the next 30 days, maybe 45 baring anything out of the ordinary happening in the mortgage rates and local economy.