Hello Everyone! Welcome back to the weekly update. I know that a break was took with the Weekly Update, but we’re back! Here’s what we have to cover:
Market Update
Looking to Sell this Summer? Tips & Tricks
Listing of The Week
Market Update
According to the MetroMLS, (the tool local real estate professionals use to find and sell your home) May was a wonderful month for the market, which only seems to be supported by June’s current numbers. A quick recap for what MetroMLS had to say about the market for the month of May:
- The median sales price increased 2.0% to $250,000.
- Days on Market went down 14.7% to 29 days.
- However, sellers still seem a bit hesitant to listing and putting their homes on the market, while buyers have been returning to the market faster.
So, what does that have to do with June’s numbers? For starters, in Kenosha, Racine, and Milwaukee counties all have a greater amount of homes with accepted offers; meaning there’s a lesser amount of homes available without accepted offers for buyers to put offers in on. Take a look below!
Milwaukee
Active Without Offer: 542 Single Family Homes
Active With Offer: 1,095 Single Family Homes
Single Family Homes Sold: 417
Racine
Active Without Offer: 269 Single Family Homes
Active With Offer: 314 Single Family Homes
Single Family Homes Sold: 121
Kenosha
Active Without Offer: 220 Single Family Homes
Active With Offer: 259 Single Family Homes
Single Family Homes Sold: 110
*as of 6/23/2020 according to MetroMLS*
This confirms MetroMLS’ May report of a resurgence of buyers in the marketplace, looking to buy-but a smaller inventory is keeping with the trend of a seller’s market. Seeing that the number of active without offers and active with offers is very close (not including Milwaukee) confirms that we still have an inventory shortage.
For Buyers: You’ll most likely still be competing to have the best offer, and may have to write on more than one property to get it.
For Sellers: Even with current circumstances, summer still boasts the most foot traffic. If you’ve considered listing your home for sale this is the time, as summer is one of the busiest seasons for real estate!
I expect the number of sold homes to rise a bit before the month ends, since the month isn’t over yet. But until then, this is our Market Update!
Looking to Sell this Summer? Tips & Tricks
So, you’ve decided to sell and what a great time to do so! With the nice weather, longer days, summer has always been a busy season in real estate! But how do you make your home stand out, when buyers might be seeing 2, 3, 4 or more homes on one showing? Here’s a few tips to help you stand out.
- Create an inviting atmosphere. Since it’s (finally) starting to get warm out, make your home an actual breath of fresh air; if you know it’s going to be 80 degrees outside, wouldn’t you want to walk into a nice, cool home for your showing?
- Keep it light & bright! Make sure all your lights are turned out. Especially with the current pandemic, this not only helps keep you safe (so agents don’t have to turn on and off lights over and over again; possibly spreading germs) and it helps showcase the beauty of your home!
- Don’t forget your ceiling fans! Sounds weird, I know. But if you have ceiling fans, and don’t use them, dust them before showings! This way if a button should be hit to start the fan, buyers won’t get a cloud of dust.
- De-personalize & de-clutter. Again, sounds pretty common but it never hurts to say it again! By de-personalizing your home (taking down family photos, etc.) it gives the buyer an ability to picture themselves in this home as if it was theirs. By decluttering it helps re-enforce the idea of a blank canvas for a buyer to really feel like they can make it their own.
Listing of The Week
Price: $359,900
Bedrooms: 4
Bathrooms: 2.5
Sq Ft: 2,768 sqft
Garage Spaces: 2, attached.
Taxes: $7,606.21
Description:Spectacular, spacious, open concept executive home in highly desirable Leona's Rolling Meadows. Boasting four larger bedrooms; plenty of room to roam for all, and an easy flowing main floor layout, perfect for entertaining, and relaxing, this beauty sports a spacious Kitchen with Island, stamped Patio, and above ground Pool, perfect for Summer fun! One of the larger lots in the Subdivision, enjoy the outdoors! The stunning, massive Master Bedroom suite and its generous closet is quite impressive. Second floor laundry adds to your convenience. Neatly located near houses of worship, excellent shopping, parks and recreation, it'll be love at first sight.
See more of this beautiful listing here.