The housing market has been a thing of concern for many years, but the latest numbers show a definite positive slant concerning the health of the housing market. This is leading many homeowners in Summit County who are interested in selling to wonder if they can sell for a higher price right now.
The truth of the matter is that the housing market is not wholly recovered, but it is better than before. The ups and downs that are still present mean that it’s possible to sell your house for a higher price this week but maybe not next month. However, there are ways to tilt the scales in your favor by making your home ultra-desirable, ensuring that you can get the highest price when the time is right.
Things Are Looking Up in Summit County
A few years ago, the housing market was a mess, and it’s taking time to clean that up. Nationwide, home prices have been steadily inching up, though they are beginning to plateau. According to data, the highest overall increase in home prices over the last year was no more than 20 percent.
In terms of Summit County, a report by the Office of the County Assessor on the economic state of affairs—including the real estate market—reveals both good and bad news. First, a comparison of median home sales shows that average sales prices from 2010 to 2012 were considerably lower than from 2008 to 2010. While housing prices have remained flat, many experts in Summit County real estate are optimistic that 2014 is the year when prices really start to increase.
The good news is that most of the other factors that contribute to a healthy housing market—and higher sales prices—are on the rise. For instance, the County Assessor’s report maintains that the four major ski resorts in Summit County are well in the black; recreation-based tourism being a dominant industry in the area. Overall, unemployment is down and tax revenue, new construction, average wages, and spending are all up. All these numbers equate to buyers with more money to buy a home.
Improving Your Home’s Appeal
It’s refreshing to hear good news on those fronts that affect the housing market, but it’s no guarantee that home prices will rise and stay high. Homeowners looking to sell their homes for the highest amount must take steps to improve their home’s curb appeal to buyers, both inside and out. Sellers can follow these simple tips to increase the chances of selling for a higher price.
- Choose a top-notch real estate agent. This one is a no-brainer. If you choose the best to sell your home, then the best is what you will get.
- Pressure wash/paint/stain the exterior. It’s important for prospective buyers to fall in love with your home, and that means having an attractive exterior (It’s the first thing they will see). The experts at Better Homes & Gardens rate curb appeal as one of the most important aspects to selling a home.
- Paint the interior neutral colors. Not only will your walls look clean, they will present a blank canvas for prospective buyers.
- Make sure it smells good. The pros at Bankrate.com maintain that no one wants to live in a stinky home, so make sure yours smells great.
The best resource for knowing when a home can sell for a higher price is an experienced, local real estate agent. They know the market’s ups and downs and can get you through them smoothly. If you are looking for the highest selling price, list with us!