Why Wait to List – Inventory is Low and Prices are Rising!

April 25th, 2014 by Katie K Team

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With homes sales and pricing rebounding strongly in Grand Rapids last year and with inventory at an all-time low, homeowners in Grand Rapids who are thinking about listing their homes should be getting ready now to make the most of the late spring market, according to Katie Karczewski, principal of Katie-K.com.

“There’s no time like the present for a free home market evaluation and staging tips. It takes time to prepare a home to put its best foot forward in the market,” said the veteran Grand Rapids realtor, who sold 78 homes last year to be among the area’s leading agents.

The Grand Rapids Association of Realtors published statistics that showed that West Michigan Realtors ended the year with an 11.6 percent increase in homes sold and a 26.7 percent increase in dollar volume. The net effect was a 13.5 percent increase in the average sales price – from $134,645 in 2012 to $152,883 in 2013. In Katie-K’s areas of specialization, such as Forest Hills, East Grand Rapids, and Ada, housing prices rose even more than the average.

But inventories fell as homeowners were reluctant to put their houses on the market. Despite the rising prices and sales, the number of new listings on the market was flat. The average home sold in 2013 was on the market for less than four months – a 12-year low.

“Homes are selling before they even hit the market right now. It’s just incredible! Through social networking and our connections, we’re getting multiple showings and offers before the listing even publishes on GRAR.” Katie-K said.

“But the most important thing you can do is to make sure your home is priced for market conditions. The houses that are selling are houses that are priced right and showcase the value proposition. A house has to make it through the appraisal process for the transaction to close, so it’s important to work with experienced agent intimate with specific market fluctuations,” she said.

Folks who are on the fence about whether it’s the right time to list should consider having a market evaluation performed. They may find they have considerably more equity than they thought.

For a free home market evaluation and meeting with Katie or her teammate, Tanya Craig, simply email a request that includes your home address and the best time to reach you. Referrals are always welcome.

 

 

 


 

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