Love the feel of this ad! It’s the reason I love working in Real Estate!
Ninety-five percent of home buyers use the Internet to shop for a home, according to the National Association of REALTORS.® If home buyers can see your home through multiple photos, videos and virtual tours, why bother with an open house?
An open house can catch buyers early in the home-search process when they’re driving around neighborhoods and getting first impressions. They often choose several homes to drive by, and an open house could tip them favorably toward your neighborhood and home. Open houses allow buyers to view homes without obligation, and an open house helps them form their preferences, compromises and deal-breakers.
An open house is only effective if it shows the home to its fullest advantage. Deep cleaning, de-cluttering, de-personalizing, and staging are imperative, just as they are for showings by appointment. Your pets should be out of the home for the day, and you should make plans to be gone while your home is open to the public.
That said, less than nine percent of buyers chose the home they bought from yard signs and open houses.Instead, 90 percent used the services of a real estate agent, which means an open house is only one piece in the overall marketing plan for selling your home.
Contact me if an open house should be part of your home’s marketing plan. Keep in mind that you may be in a market where homes are selling so quickly that an open house isn’t necessary, but in most markets, you should employ all the ways home buyers shop for a home.
Here’s your monthly real estate update for our area for February 2017. Remember the data lags by one month so March’s report shows activity for the preceding month – February!
The real estate market continues to build momentum as we head into Spring. Take a look at this…
- The number of properties that closed in February was up 12% YTD vs 2016! Over the last 12 months, resale closed properties have increased by 15.4% with the average price improving by 3.5%.
- The total number of active listings, whether looking at the overall market or just new construction, are down by 35% vs 2015.
- By comparing active listings to total sales during the last 12 months there is currently a 4.1 month supply of inventory, both overall and for newly built homes.
I hope you find this information useful! Stay tuned for next month’s report…