Buyers Suddenly Woke Up

Last weekend my 21 year old son and I took the weekend off to escape and backpack in the Smokies for a few days. My wife, also a Realtor, took the helm while I was gone. What I returned to was a flurry of buyer activity. Over the next 6 days after my return, I got 7 homes under contract. What happened?

Comparing weekly activity over the last 4 weeks in the central part of the metro area in the $300,000 - $500,000 price range, the average number of homes sold was 64, the exact same as a year ago for these weeks. This last week however jumped 25% while the same week a year ago declined. In fact the Days on Market suddenly dropped 40% to 18 days this week while last year the DOM increased.

The recent drop in mortgage rates has spurred some optimism for buyers.  This also could create some excitement for sellers too.  Yet while 80 homes sold last week in this price bracket, 762 homes did not.  

As a seller if you want to make sure you are one of these 80 and not one of the 762 then you have to market your home to the right buyers.  I’ve developed a new system to ensure you are reaching the right buyers.  If you want to make sure you’re targeting the right people with your home, reply to this email and I’ll sit down with you for a quick consultation.