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How the Middletown Market Has Improved in a Year

Summer is nearly over, but the summer real estate market isn’t. We’ve got an update for you today complete with the latest numbers for the Middletown market.

We’ve got a quick summer market update to share with you about how the housing market is doing right now in the Middletown area. To look at how the market is doing, we look at the numbers and figures for the most recent months vs. the numbers we saw at the same time last year. Here’s what we found:

Available homes are down by 9% from this time last year. Inventory is getting thinner.
The median price for homes has increased by $7,000 since last year.
The list-to-sales ratio has improved by ⅓ of a percent. Sellers are getting more for their homes.

You can get top dollar for your home now.

We are shifting more towards a seller’s market, which is great news if you’ve been thinking about listing. If you have any questions for us or you’re interested in getting your home on the market, give us a call or send us an email. We would love to hear from you.

When’s the Best Selling Season in Delaware?

When is the best time to put your home on the market? This is one of the most frequently asked questions that I get as a real estate agent.

The general public seems to believe that spring is the best time of year to sell a house. However, I've seen that the decision to sell your home is usually triggered by a life-changing event. A baby being born, someone dying, someone getting married, someone getting divorced, someone’s job being transferred, a home burning down, or maybe wanting your kids to get into a different school -  these are all the types of life events that could dictate when to move that aren’t tied to a certain month or season.

The exception, of course, could be the school cycle, with most families wanting to move before the school year starts, if schools are a factor. I think this is where the notion of the Spring selling season comes from. The reality is that buyers are out there every single month of the year because they’re driven by those triggering events.
Life events should determine when to move, not seasons.
If you’re thinking about selling your home and looking at the calendar thinking you missed the Spring market and you have to wait for next year - know that’s not the case!

Our Decembers are often as busy as July or August. It really depends on when your house is truly ready. If you have a house you’re thinking about selling, go ahead and do it. Buyers are out there, and they will look for a property in the dead of winter if they need to move. Remember, it’s the triggering event that matters, not the month of the year.

If you have any questions about the home selling process or real estate in general, give me a call or send me an email. I would be happy to help you!

Just How Accurate Is My Zestimate?

Automated home value tools like Zillow and other real estate websites aren’t always reliable. Although the conversation is often about how accurate these tools are, I’d like to bring up a new question. How accurate is the information that’s going in?

These algorithms predominantly rely on information given about your home. This information, derived from public sources, compares your property to the homes you compete against. Unfortunately, there’s not much policing of this information, which can cause inaccuracy and skewed data.

Be a conscious consumer.

Although these tools are a great place to start the buying or selling process, you have to be careful, because the data just isn’t reliable. There is a "garbage in, garbage out" effect going on. The results are only as good as the information going in, which happens to not be good at all!

Again, these sources can be useful for trending information, but be a conscious consumer regarding those specific figures. You need a human source to provide an accurate home value.

If you’re thinking about buying or selling a home in the surrounding area, you can reach me by phone or email. I’d be happy to discuss and serve your local real estate needs!