Sizzling Summer of Home Sales: Some of the Best Sales Numbers in a Decade...And What that Means for the Fall Market

July 2015 was the best month for home sales since August 2005, an historic event! Over 7,000 single-family homes were sold during the month of July 2015 in Massachusetts, the market’s first return to that level in more than 10 years and a 24.31% increase over July 2014.

Our exceptionally harsh winter delayed the spring market but the pent up demand more than made up for the sluggish start and resulted in the record breaking July sales number. What does such a busy and lucrative summer mean for the fall market? Even though things have settled down since the spring and inventory has built up a bit, we still are very optimistic about the fall market. Buyer demand is still strong and we are seeing very healthy attendance at open houses. Here are a few tips to consider when listing your house this fall.

Pricing is Still Everything

Today’s buyer is incredibly well researched and knowledgeable. Although prices have increased since the spring, so has inventory so it’s important to price your property strategically. Remember to base your price on today’s market and don’t make the mistake of basing your price on what happened in the spring when inventory was historically low. If the buyer does not see value, he will not even schedule a showing.

Like New Condition

Besides price, condition is the second most important thing to today’s buyer. Many buyers prefer new houses because they don’t want to do a lot of work. If your home is not new, don’t worry but do take steps to make it look as meticulous as possible. Sellers should rarely be advised to redo kitchens and baths because those makeovers are expensive and there is no guarantee that you’ll recoup your investment. That said, sellers should spruce up as best they can. Fresh paint, clean or new carpets, refinished floors, fresh mulch, long awaited repairs can make a tired house appear well loved and well cared for.

De-Clutter or Stage

Today’s look is all about “Less is More”. If you have a well lived-in home and you’ve amassed a lot of belongings over the years (as we all have!), take a fresh look around and look at your house through the eyes of a buyer. Box up your bric-a-brac and some of your personal photos -- even some of your small kitchen appliances. Clean surfaces make your house feel less cluttered. Remove a chair of two even if you think the room looks bare. A buyer will see his own things in the empty spaces. Make sure the rooms are well lit and clean. Open blinds and draperies and let the sunshine in. If your window treatments are too fussy, take them down. Put fresh flowers on the table. And who knows…while you’ll probably still want to sell it – you might get rid of the clutter and fall in love with your home over again! If you do, the possibilities are endless for that perfect buyer.