Trying to sell and things not going as planned? Don't give up but also be aware of what the stats say...
Ohio home sales through the first two months of 2011 reached 10,854, a 2.6% decline from the 11,147 sales posted during the same period a year ago. The average sales price (January through February) this year is $116,871, a 3.1% decrease from the $120,590 mark set during the period a year ago.
Total dollar volume this year tops $1.26 billion, a 5.6% decrease from the two month mark a year ago of $1.3 billion.
Sales in February 2011 reached 5,524, a 5.4% decline from the 5,839 sales posted during the month a year ago. The month's average sale price of $118,037 was a negligible 1.6% below the $119,994 mark of February 2010. The total dollar volume in February 2011 topped $652 million, a 6.9% decline from the $700 million posted a year ago.
NAR is reporting that existing-home sales in the U.S., dropped 9.6% to a seasonally adjusted annual rate of 4.88 million in February from an upwardly revised 5.40 million in January and are 2.8 percent below the 5.02 million pace in February 2010. The national median existing-home price for all housing types was $156,100 in February, 5.2% below February 2010.
An NAR practitioner survey shows first-time buyers purchased 34% of homes in February, up from 29% in January; they were 42% in February 2010.
Taken from the Ohio Association of Realtors-2011
So, what does this mean to Home Sellers?
It means being the best quality at the best price. Just the same as it has been for the past year. The competition is still high and the market favors Buyers right now. Use that information to plan your strategy. Set your house apart from the others. Make it stand out. It will make a difference.
