Ignite FB Tracking PixelHome Selling Tips: How to Monitor the Housing Market - Chris Heller
Chris Heller
Chris Heller, Keller Williams RealtyPhone: (800) 800-2978
Email: [email protected]
Home Selling Tips: How to Monitor the Housing Market

by Chris Heller 02/04/2019

For those who plan to list a house in the foreseeable future, it often is beneficial to track the real estate market. By doing so, a home seller can identify real estate market patterns and trends and quickly address any potential property selling hurdles.

Now, let's take a look at three tips to help you analyze housing market data so you can accelerate the property selling journey.

1. Review the Prices of Recently Sold Houses in Your Area

Check out the prices of recently sold houses in your city or town. That way, you can find out whether sellers are accepting offers to purchase at or above their initial home asking prices.

Furthermore, it may be a good idea to see how your house ranks against recently sold residences. With this housing market data in hand, you may be better equipped than ever before to establish a competitive initial asking price for your home.

2. Determine How Quickly Houses Are Selling

As a home seller, you should find out whether you're preparing to enter a buyer's or seller's market. If you look at how quickly houses are selling in your city or town, you can distinguish a buyer's market from a seller's one.

In a buyer's market, you will find many sellers and few buyers. Conversely, in a seller's market, there is an abundance of buyers and few sellers.

The differences between a buyer's and seller's market are significant. If you understand whether you're getting ready to sell your home in a housing market that favors buyers or sellers, you can determine how to price your residence so it will generate plenty of interest from buyers. And as a result, you may be able to streamline the home selling journey.

3. Assess the Prices of Homes That Are Similar to Your Own

Your home may be one of many available to property buyers. Thus, you should review the prices of houses in your city or town that are similar to your own. This housing market data will help you narrow the price range for your residence.

Also, you may want to review rival home sellers' property listings and see how these sellers promote their residences to prospective buyers. Because if you can find ways to differentiate your home listing from competitors', you could boost the likelihood of a successful house selling experience.

As you prepare to add your house to the real estate market, you may want to hire a real estate agent as well. A real estate agent will offer recommendations so you can enhance your residence both inside and out and help you establish a competitive initial home asking price. Plus, a real estate agent will help you review an offer to purchase your home and determine the best course of action.

Take the guesswork out of selling your house – use the aforementioned tips, and you can monitor the real estate market and use housing sector data to simplify the property selling journey.

About the Author

Author
Chris Heller

Chris Heller has built one of the most successful real estate teams in the United States. From his selection as Rookie of the Year in 1989 to being the top-producing agent in San Diego County and the #1 Keller Williams associate in all of North America, Chris has earned the respect of colleagues and clients for the exceptional results he delivers.

Under Chris' leadership, the Chris Heller Team has sold literally thousands of homes. In fact, he has sold more than 100 homes a year every year for the past two decades. During a five-year stretch of one of the most challenging real estate markets in history, his sales volume totaled more than $450 million.
Chris has succeeded in a highly competitive marketplace through his leadership, drive and ability to assemble and empower high-performing teams. The specialized members of the Chris Heller Team provide unrivaled market knowledge and client service.

Chris also serves as the owner and operator of several Keller Williams market centers and has helped build Keller Williams into one of the largest and fastest growing real estate franchise operations in the world. In 2011, Chris was asked to lead Keller Williams Worldwide. Under his leadership, Keller Williams has expanded into more than a dozen countries, including Dubai, Indonesia, Mexico, Portugal, Turkey, South Africa, the United Kingdom and Vietnam. Chris' deep connections to real estate leaders throughout the world provide his clients with a unique global perspective and exposure to international buyers and sellers.