at Keller Williams Integrity
The Bartic Group's Market Report
Single-Family Homes
www.TheBarticGroup.com
Loveland, CO
This week the median list price for Loveland, CO is $621,087 with the market action index hovering around 60. This is less than last month's market action index of 66. Inventory has increased to 184.
Real-Time Market Profile Median List Price
$621,087
Market Action Index
Median Price of New Listings
$518,000
This answers “How’s the Market?” by comparing rate of sales versus
Per Square Foot
$227
Average Days on Market
41
Median Days on Market
21
Price Decreased
40%
Price Increased
6%
Relisted
9%
Inventory
184
Median Rent
$2,373
Market Action
60
inventory. 50
40
Buyer's Market
60
Seller's Market
70
100
10 0
on
60
90
M
ay Tod th
Las t
80
20
30
Strong Seller's Market The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Strong Seller's Market
Market Segments Each segment below represents approximately 25% of the market ordered by price. Median Price
Sq. Ft.
Lot Size
Beds
Bath
Age
New
Absorbed
DOM
$1,149,500
3,990
1 - 2.5 acres
4
3.3
24
5
4
35
$683,797
3,290
6,500 - 8,000 sqft
4
3
0
5
5
42
$556,250
2,488
6,500 - 8,000 sqft
3
2.5
4
8
7
21
$450,000
1,728
6,500 - 8,000 sqft
3
2
47
16
8
14
Thu Jul 28 2022
2 of 6
The Bartic Group's Market Report
Single-Family Homes
www.TheBarticGroup.com
Loveland, CO
Median List Price
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels. $800K
$700K
$600K
$500K
$400K
$300K Aug 2019
Dec 2019
Apr 2020
Aug 2020
Dec 2020
7-Day Average
Apr 2021
Aug 2021
Dec 2021
Apr 2022
Jul 2022
90-Day Average
Segments
Prices at the upper end of the market have been showing weakness. While there is enough demand in the low end (Quartiles 3 and 4) to keep prices flat, unless there is a persistent up-shift in the Market Action Index, the entire market may resume a down trend soon. $3.0M
$2.5M
$2.0M
$1.5M
$1.0M
$500K
$0 Aug 2019
Dec 2019
Apr 2020
Top 90-Day
Aug 2020
Dec 2020
Upper 90-Day
Apr 2021
Lower 90-Day
Thu Jul 28 2022
Aug 2021
Dec 2021
Apr 2022
Jul 2022
Bottom 90-Day
3 of 6
The Bartic Group's Market Report
Single-Family Homes
www.TheBarticGroup.com
Loveland, CO
Price Per Square Foot
While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are coming more available and buyers can see more home for their money. $300 $275 $250 $225 $200 $175 $150 $125 Aug 2019
Dec 2019
Apr 2020
Aug 2020
Dec 2020
7-Day Average
Apr 2021
Aug 2021
Dec 2021
Apr 2022
Jul 2022
90-Day Average
Inventory
Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply. 500
400
300
200
100
0 Aug 2019
Dec 2019
Apr 2020
Aug 2020
Dec 2020
7-Day Average
Apr 2021
Aug 2021
Dec 2021
Apr 2022
Jul 2022
90-Day Average
Thu Jul 28 2022
4 of 6
The Bartic Group's Market Report
Single-Family Homes
www.TheBarticGroup.com
Loveland, CO
Market Action Index
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices. 125
100
75
50
25
0 Aug 2019
Dec 2019
Apr 2020
Aug 2020
Dec 2020
7-Day Average
Apr 2021
Aug 2021
Dec 2021
Apr 2022
Jul 2022
90-Day Average
Market Action Segments
Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group. 125
100
75
50
25
0 Aug 2019
Dec 2019
Apr 2020
Top 90-Day
Aug 2020
Dec 2020
Upper 90-Day
Apr 2021
Lower 90-Day
Thu Jul 28 2022
Aug 2021
Dec 2021
Apr 2022
Jul 2022
Bottom 90-Day
5 of 6
The Bartic Group's Market Report
Single-Family Homes
www.TheBarticGroup.com
Loveland, CO
Median Days on Market (DOM)
The properties have been on the market for an average of 38 days. Half of the listings have come newly on the market in the past 16 or so days. Watch the 90-day DOM trend for signals of a changing market. 80
60
40
20
0 Aug 2019
Dec 2019
Apr 2020
Aug 2020
Dec 2020
7-Day Average
Apr 2021
Aug 2021
Dec 2021
Apr 2022
Jul 2022
90-Day Average
Segments
It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. 200
150
100
50
0 Aug 2019
Dec 2019
Apr 2020
Top 90-Day
Aug 2020
Dec 2020
Upper 90-Day
Apr 2021
Lower 90-Day
Thu Jul 28 2022
Aug 2021
Dec 2021
Apr 2022
Jul 2022
Bottom 90-Day
6 of 6
3608 W Eisenhower Blvd, Loveland, CO 80537-9179, Larimer County APN: R0439355
Expired Listing
CLIP: 5228459896
MLS Beds 4
Full Baths 2
Half Baths 1
Sale Price $129,000
MLS Sq Ft 1,844
Lot Sq Ft 29,621
Yr Built 1953
Type DUPLEX
Sale Date N/A
OWNER INFORMATION
Owner Name
Wilson Nyla R
Mailing ZIP 4
9395
Mailing Address
6608 W County Road 20
Mailing Carrier Route
R007
Mailing City & State
Loveland, CO
Owner Occupied
No
Mailing Zip
80537
LOCATION INFORMATION
Property Zip
80537
Census Tract
18.08
Property Zip4
9179
Topography
Flat/Level
Property Carrier Route
C007
Neighborhood Code
29517-29517
School District
Thompson R-2j
Neighborhood Name (OnBoard)
Eisenhower Blvd. - Taft Ave.
Elementary School
Namaqua
Township
05
Middle School
Walt Clark
Range
69
High School
Thompson Valley
Section
16
Zoning
T
Quarter
NW
PIN
R0439355
% Improved
95%
Alternate PIN
95162-00-015
Tax District
2000
Schedule Number
R0439355
Legal Description
BEG 689 FT W OF NE COR OF NW 1/4 16-5-69, W 85 FT, S 350 FT, E 8 5 FT, N 350 FT TPOB; LESS HWY AS IN 1464-329
TAX INFORMATION
ASSESSMENT & TAX
Assessment Year
2022 - Preliminary
2021
2020
2019
Market Value - Land
$23,000
$23,000
$23,000
$23,000
Market Value - Improved
$438,700
$438,700
$311,200
$311,200
Market Value - Total
$461,700
$461,700
$334,200
$334,200
Assessed Value - Land
$1,564
$1,645
$1,645
$1,645
Assessed Value - Improved
$29,832
$31,367
$22,251
$22,251
Assessed Value - Total
$31,396
$33,012
$23,896
$23,896
YOY Assessed Change (%)
-4.9%
38.15%
0%
YOY Assessed Change ($)
-$1,616
$9,116
$0
Tax Year
Total Tax
Change ($)
Change (%)
2019
$1,847
2020 2021
$1,880
$32
1.74%
$2,596
$717
38.14%
CHARACTERISTICS
Lot Acres
0.68
Baths - Half
1
Lot Sq Ft
29,621
Stories
2
Land Use - County
Duplex/Triplex
Fireplace
Y
Land Use - CoreLogic
Duplex
Fireplaces
1
Building Type
Car Wash Automatic
Heat Type
Forced Air
Style
Duplex
Patio Type
Balcony
Year Built
1953
Garage Type
Built-In
Bldg Sq Ft - Above Ground
1,844
Garage Sq Ft
572
Bldg Sq Ft - Total
1,844
Roof Material
Composition Shingle
Bldg Sq Ft - Finished
1,844
Construction
Wood
# Units
2
Exterior
Frame
# Buildings
1
Foundation
Concrete
Total Rooms
5
Water
Public
Bedrooms
Tax: 3 MLS: 4
Sewer
Septic Tank
Property Details
Courtesy of Elijah Schoettmer, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 07/28/22 Page 1/3
Baths - Total
Tax: 3 MLS: 4
Quality
Average
MLS Total Baths
4
Equipment
Ig5, Ah7
Baths - Full
2
FEATURES
Feature Type
Size/Qty
Appliance Fireplace Single
1
Balcony Wood Wood Fin
130
Fixture Bathtub Standard
1
Fixture Shower
1
Fixture Sink Bathroom
3
Fixture Sink Standard
1
Fixture Toilet
3
Fixture Water Heater
1
Porch Open Slab
144
Porch Wood Roof
144
SELL SCORE
Rating
Low
Sell Score
439
Value As Of
2022-07-24 07:43:01
LISTING INFORMATION
MLS Listing Id
IR948770
MLS Current Price
$489,000
MLS Days On Market
159
MLS Original List Price
$520,000
MLS Source
IRES
MLS Listing Contract Date
08/17/2021
MLS Status
Expired
MLS List Office Name
RESIDENT REALTY
MLS Status Change Date
01/22/2022
MLS List Agent Full Name
Irg43691-Kay Carithers
Sale Price
$129,000
Sale Type
Full
Price per SqFt - Finished
$69.96
Deed Type
Warranty Deed
Document Number
54684
Owner Name
Wilson Nyla R
LAST MARKET SALE & SALES HISTORY
Sale Date
06/23/2004
Sale Price
$129,000
Nominal
Y
Buyer
Wilson Nyla R Trust
Seller
Wilson Nyla R
Document Number
72465
54684
Document Type
Warranty Deed
Warranty Deed
Multi/Split Sale Type
Multi
Wilson Nyla R
MORTGAGE HISTORY
Mortgage Date
04/24/2019
08/26/2004
06/12/2000
Mortgage Amount
$16,358
$20,638
$125,000
Mortgage Lender
Bank Of Co
Commercial Fed Bk
Commercial Fed'l Mtg
Borrower
Wilson Nyla R Trust
Wilson Nyla R
Wilson Nyla R
Mortgage Type
Conventional
Conventional
Conventional
Mortgage Purpose
Refi
Refi
Refi
Mortgage Int Rate
6
Mortgage Int Rate Type
Fixed Rate Loan
Adjustable Int Rate Loan
Mortgage Term
5
5
30
Mortgage Term
Years
Years
Years
Property Details
Courtesy of Elijah Schoettmer, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 07/28/22 Page 2/3
PROPERTY MAP
*Lot Dimensions are Estimated
Property Details
Courtesy of Elijah Schoettmer, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 07/28/22 Page 3/3
Map of Property Locations
2327 W 18th Street, Loveland, CO Listing Id: Status: Price: 1 Subtype: Ttl SqFt: Show #:
80538 7480083 Closed 05/12/22 $600,000 Duplex 2,054
1721-1723 W 8th Street, Loveland, CO 80537 Listing Id: IR956988 Status: Closed 01/21/22 Price: $515,000 3 Subtype: Duplex Ttl SqFt: 1,699 Show #:
923-925 W Kelly Drive, Loveland, CO 80537 Listing Id: 5453286 Status: Closed 05/06/22 Price: $536,730 Subtype: Duplex 2 Ttl SqFt: 1,946 Show #: 800-746-9464
Broker 1 Page 2327 W 18th Street, Loveland, CO 80538 (Status: Closed, Listing ID: 7480083) Close Price: $600,000 County: Larimer List Price: $550,000 Property Type: Residential Income/Duplex Year Built: 1972 Original List Price: $550,000 Levels: One Basement: No Subdivision Name: Lakemont Listing Contract Date: 04/26/2022 Spec. Listing Cond: None Known Purchase Contract Date: 04/28/2022 Contingency: None Known Close Date: 05/12/2022 Days in MLS: 2 Association: N Multiple: Cov/Rest: N Assoc Fee Tot Annl: $0.00 Tax Annual Amt: $2,379 Tax Year: 2021 Tax Legal Desc: LOT 10; EX W 41.4 FT; & ALSO W 54.6 FT LOT 9, BLK 6, LAKEMONT, LOV Interior Area & SqFt Building Area Total (SqFt Total): 2,054 Living Area (SqFt Finished): 2,054 Above Grade Finished Area: 2,054 PSF Total: $292 PSF Finished: $292 PSF Above Grade: $292 Heating: Forced Air # FP, FP Features: Cooling: Air Conditioning-Room Flooring: Interior Features: Open Floorplan, Pantry Appliances: Disposal, Dryer, Microwave, Oven, Range, Washer Exclusions: N/A Financials & Expenses Cap Rate: 0.45 Cap Rate Calculation: Gross Rent Mult.: 220 Actual Projected Gross Income: 2,500.00 Gross Income: 2,500.00 Parking Parking Total: 2 Garage Spaces: 2 Offstreet Spaces: 0 Site & Location Information Lot Size: 0.24 Acres / 10,454 SqFt Waterfront Feat: Lot Features: Level Elementary School: Namaqua / Thompson R2-J Bldg/Complex Name: Middle/Junior Sch: Bill Reed / Thompson R2-J High School: Loveland / Thompson R2-J Building & Water Information Architectural Style: Entry Level/Loc: Common Walls: Unit Count (in Building): 2 Direction Faces: View: Mountain(s) Construction Materials: Brick Roof: Composition Exterior Features: Water Source: Public Sewer: Public Sewer Utilities: Cable Available, Electricity Connected, Natural Gas Available Electric: Public Remarks Excellent opportunity to own income property or live in one side of this cute duplex and rent out the other. All brick ranch is in great shape with potential to update even more. The west side has one large bedroom and bath with spacious living room that flows into the dining space. Kitchen has painted cabinets, glass backsplash, and black and stainless appliances. Washer and dryer included (for 2... Private Remarks Private Remarks: Multiple offers have been received. PLEASE SUBMIT ALL OFFERS BY 5PM THURSDAY, 4/28. Duplex: 2327-2331 W 18th Street. Rents are estimates provided by Management Co. No rental history as property was owner occupied. Buyer Agency Comp: 3% Dual Variable: No Submitted Prosp: No Transaction Broker Comp: 3%
List Agent: Todd Sledge List Office: The Group Inc - Harmony Email:
tsledge@thegroupinc.com
Buyer Agent: Melissa Harris Buyer Office: Keller Williams Rlty Partners Email:
twinsandpartnersm@kw.com
Concessions: No Buyer Financing: Conventional
List Agent Phone: 970-222-9120 Mobile: 970-222-9120 Buyer Agent Phone: 970-397-2769 Mobile: 970-397-2769 Close Information
Not intended for public use. All data deemed reliable but not guaranteed. © REcolorado 2022.
Generated on: 07/28/2022 11:02:00 AM
Full Property View - Client
2327 W 18th Street, Loveland, CO 80538
----
$600,000 - Closed
923-925 W Kelly Drive, Loveland, CO 80537 (Status: Closed, Listing ID: 5453286) Close Price: $536,730 County: Larimer List Price: $510,000 Property Type: Residential Income/Duplex Year Built: 1966 Original List Price: $510,000 Levels: One Basement: No Subdivision Name: Romar Listing Contract Date: 04/14/2022 Spec. Listing Cond: None Known Purchase Contract Date: 04/18/2022 Contingency: None Known Close Date: 05/06/2022 Days in MLS: 4 Association: N Multiple: Cov/Rest: N Assoc Fee Tot Annl: $0.00 Tax Annual Amt: $2,366 Tax Year: 2021 Lot 13, Block 1, Romar Addition, to the City of Loveland, County of Larimer, State of Tax Legal Desc: Colorado Interior Area & SqFt Building Area Total (SqFt Total): 1,946 Living Area (SqFt Finished): 1,946 Above Grade Finished Area: 1,946 PSF Total: $276 PSF Finished: $276 PSF Above Grade: $276 Basement: Crawl Space Foundation Details: Heating: Forced Air # FP, FP Features: Cooling: Other Flooring: Interior Features: Appliances: Dishwasher, Oven, Self Cleaning Oven Exclusions: Tenant's Personal Property Financials & Expenses Cap Rate: 4.03 Cap Rate Calculation: Actual Projected Gross Income: 2,375.00 Gross Income: Operating Expense: 7,923.00 Annual Expense: Tenant Pays: Electricity, Gas, Trash Collection Utility Metering: Parking Parking Total: 2 Garage Spaces: 2 Offstreet Spaces: 0 Site & Location Information Lot Features: Ditch Elementary School: Garfield / Thompson R2-J Bldg/Complex Name: Middle/Junior Sch: Bill Reed / Thompson R2-J High School: Thompson Valley / Thompson R2-J Building & Water Information Architectural Style: Entry Level/Loc: Common Walls: Unit Count (in Building): 2 Direction Faces: View: City Construction Materials: Frame Roof: Composition Exterior Features: Water Source: Public Sewer: Public Sewer Utilities: Electricity Available, Natural Gas Available Electric: Public Remarks Desirable side-by-side duplex near downtown Loveland. Each unit is 3-bed, 1-bath, with a 1-car garage, and backyard sheds. Great rental history. Well maintained on a large lot. Roof was replaced in 2019. Each unit has washer/dryer hookups. Unit 925 will be vacant by 6/30 or possibly sooner. Great investment property or owner occupant too; live in one unit and rent out the other. Property has been ... Private Remarks Private Remarks: 24-hour notice for all showings. Be respectful of tenants. Buyers must agree to participate in a 1031 exchange. Additional provision language within contract prep form in additional documents. All offers due by Monday at 12pm with a decision by Tuesday at 12pm at the latest. Seller reserves the right to accept an early offer. Clothes washer and clothes dryer are tenant owned. Both units have been Buyer Agency Comp: 3.00% Dual Variable: No Submitted Prosp: No Transaction Broker Comp: 3.00%
List Agent: Blas Estrada List Office: The Group Inc - Centerra Email:
bestrada@thegroupinc.com
Buyer Agent: Matt Brinkhoff Buyer Office: Coldwell Banker Realty 24 Email:
matt.brinkhoff@cbrealty.com
Concessions: No Buyer Financing: Cash
List Agent Phone: 970-324-6177 Mobile: 970-324-6177 Buyer Agent Phone: 303-324-0241 Mobile: 303-324-0241 Close Information
Not intended for public use. All data deemed reliable but not guaranteed. © REcolorado 2022.
Generated on: 07/28/2022 11:02:01 AM
923-925 W Kelly Drive, Loveland, CO 80537
----
$536,730 - Closed
1721-1723 W 8th Street, Loveland, CO 80537 (Status: Closed, Listing ID: IR956988) Close Price: $515,000 County: Larimer List Price: $469,000 Property Type: Residential Income/Duplex Year Built: 1960 Original List Price: $469,000 Levels: One Basement: No Subdivision Name: 2175 - ROMAR Listing Contract Date: 01/04/2022 Spec. Listing Cond: Purchase Contract Date: 01/12/2022 Contingency: Close Date: 01/21/2022 Days in MLS: 9 Association: N Multiple: Cov/Rest: N Assoc Fee Tot Annl: Tax Annual Amt: $2,107 Tax Year: Tax Legal Desc: LOT 16, BLK 2, ROMAR, LOV Interior Area & SqFt Building Area Total (SqFt Total): 1,699 Living Area (SqFt Finished): Above Grade Finished Area: PSF Total: PSF Finished: PSF Above Grade: Basement: None Foundation Details: Heating: Forced Air # FP, FP Features: Cooling: Central Air Flooring: Financials & Expenses Cap Rate: 4.80 Cap Rate Calculation: Actual Projected Gross Income: 0.00 Gross Income: Operating Expense: 5,072.00 Annual Expense: Tenant Pays: Electricity, Gas, Trash Collection Utility Metering: Parking Parking Total: Garage Spaces: Offstreet Spaces: Site & Location Information Lot Size: 0.21 Acres / 9,362 SqFt Waterfront Feat: Lot Features: Corner Lot Elementary School: Garfield / Thompson R2-J Bldg/Complex Name: Middle/Junior Sch: Bill Reed / High School: Thompson Valley / Thompson R2-J Building & Water Information Architectural Style: Entry Level/Loc: Common Walls: Unit Count (in Building): 2 Construction Materials: Brick Roof: Composition Exterior Features: Water Source: Public Sewer: Utilities: Electricity Available, Natural Gas Available Electric: Public Remarks Open House Friday, 1/7/2022 between 11-1. This well maintained all brick duplex sits on a large corner lot centrally located in Loveland. Each side features 2 bedrooms and 1 bathroom. Both sides have A/C and a garage. There is a fully fenced backyard. The month to month tenants are at below market rates providing the opportunity for a new owner to significantly increase cash flow. Private Remarks Private Remarks: Open House Friday, 1/7/2022 between 11-1. Buyer Agency Comp: 3.00% Dual Variable: Submitted Prosp: No Transaction Broker Comp: 3.00%
List Agent: Lawrence Melton List Office: Realtec C.R.E.S. of Loveland Email:
Larry.Melton@realtec.com
Buyer Agent: Lawrence Melton Buyer Office: Realtec C.R.E.S. of Loveland Email:
Larry.Melton@realtec.com
Concessions: Buyer Financing:
List Agent Phone: 970-593-9900 Mobile: Buyer Agent Phone: 970-593-9900 Mobile: Close Information
Not intended for public use. All data deemed reliable but not guaranteed. © IRES LLC 2022.
Generated on: 07/28/2022 11:02:01 AM
1721-1723 W 8th Street, Loveland, CO 80537
----
$515,000 - Closed
Property Type is 'Residential Income' Mls Status is one of 'Active', 'Pending' Mls Status is 'Closed' Status Contractual Search Date is 07/28/2022 to 08/02/2021 Property Sub Type is 'Duplex' Latitude, Longitude is within 2.00 mi of 3608 W Eisenhower Blvd, Loveland, CO 80537, USA Originating System Name is one of 'REcolorado', 'ROCC', 'SSBR', 'IRES*' 11 Properties have been discarded.
Residential Income Closed Properties Listing ID Address
City
Subtype
Abv
Ttl
Fin
PSF Abv
PSF Ttl
PSF Fin DIM Orig Price
IR956988 1721-1723 W 8th ST
Loveland
Duplex
5453286 923-925 W Kelly DR
Loveland
Duplex
1,946
1,946
1,946
05/06/22
$276
$276
$276
7480083 2327 W 18th ST
Loveland
Duplex
2,054
2,054
2,054
05/12/22
$292
$292
$292
Averages:
2,000
$284
$284
$284
Count: 3
1,699
Close
Closed Price:
Report Totals
Presented By: Elijah Schoettmer Generated on: 07/28/2022
Count : 3
1,900
01/21/22
2,000
High $600,000
SqFt Abv Averages: 2,000
SqFt Ttl 1,900
Low $515,000 Sqft Fin 2,000
PSF Abv $ 284
List Price Close Price
CP/OLP
9
469,000
$469,000 $515,000
110%
4
510,000
$510,000 $536,730
105%
2
550,000
$550,000 $600,000
109%
5
$509,667
$509,667 $550,577
108%
Orig Price $509,667
List Price Close Price $509,667 $550,577
CP/OLP 108 %
Median $536,730 PSF Ttl
$284
All data deemed reliable but not guaranteed. Copyright REcolorado © 2022. All rights reserved. REcolorado.com
PSF Fin $284
CMA 1-Line Page 1 of 1
at Keller Williams Integrity
INTELLIGENT PRICING & TIMING Pricing a home for sale is as much art as science, but there are a few truisms that never change. ☐ ☐ ☐
Fair market value attracts buyers, overpricing never does. The first two weeks of marketing are crucial. The market never lies, but it can change its mind.
ASKING PRICE
PERCENTAGE OF BUYERS
+15%
10%
+10%
30%
Market Value
60%
-10%
75%
-15%
90%
Fair market value is what a willing buyer and a willing seller agree by contract is a fair price for the home. Values can be impacted by a wide range of reasons but the two largest are location and condition. Generally, fair market value can be determined by comparables - other similar homes that have sold or are currently for sale in the same area. Sellers often view their homes as special which tempts them to put a higher price on the home, believing they can always come down later, but that’s a serious mistake. Overpricing prevents the very buyers who are eligible to buy the home from ever seeing it. Most buyers shop by price range, and look for the best value in that range.
ACTIVITY
at Keller Williams Integrity
1
2
3
4
5
6
TIME ON MARKET (IN WEEKS)
Your best chance of selling your home is in the first two weeks of marketing. Your home is fresh and exciting to buyers and to their agents. With a sign in the yard, a description in the local Multiple Listing Service, distribution across the internet, open houses, broker’s caravan, ads, and email blasts to your listing agent’s buyers, your home will get the greatest flurry of attention and interest in the first two weeks. If you don’t get many showings or offers, you’ve probably overpriced your home, and it’s not comparing well to the competition. Since you can’t change the location, you’ll have to improve the home’s condition or lower the price. Consult with your agent and ask for feedback. Perhaps you can do a little more to spruce up your home’s curb appeal, or perhaps stage the interior to better advantage. The market can always change its mind and give your home another chance, but by then you’ve lost precious time and perhaps allowed a stigma to cloud your home’s value. Intelligent pricing isn’t about getting the most for your home – it’s about getting your home sold quickly at fair market value.
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