Happy Monday! Taking a look at today's Monday Market update, we look back at the Ocean Springs Market for August and do a year over year comparison to August 2017.
First off, we take a look at the absorption rate of the market. In August of 2017 the market had 4.4 months worth of inventory actively available, and last month that was down to 3.42. (July 18' was 3.8). This trend is one of many signs that prices will continue to rise and demand hasn't slowed down. Following the absorption rate, we look at the median list and sales price year over year. In August of 2017, the median list price was 210,000. This year, that number jumped by 8% to $226,825. The median sale price for August 2017 was $168,250 while this year that number jumped up a whopping 12.63% to $189,500. While these numbers just provide us a snapshot of August vs. August, the year-to-date trends follow suit. This year continues to show higher average sales prices, less days on the market, and shorter absorption rate.
With all of this said, I'm not sure there has ever been a better time to sell a home in the Ocean Springs market.
If you're thinking of selling, follow these Home-Selling tips to get started!
Find a great Real Estate Agent - Let us take care of you! We happen to know a few great agents! http://www.raindev.com
Consider your curb appeal
Adding just a few things to make your house stand out can make all the difference in getting people in the door.
Declutter living areas
A clean and organized home makes a buyer see the possibilities. what to remove
When viewing a home, buyer's need to imagine themselves living there, and having uniquely personal items makes that difficult. 10 tips to prepare for a showing
Repaint walls to neutral tones
While you may love that purple accent wall, chances are it won't appeal to the most amount of buyer prospects.
And then clean some more. You want your property to look spotless. Take special care with the bathroom, making sure the tile, counters, shower, and floors shine.
For where these tips came from and more info check out Realtor.com's Home Selling Checklist