Despite one of the harshest winters in memory, a recent spring-like weekend reinvigorated homebuyers, who were out in force visiting Weichert open houses. In fact, overall attendance at Weichert open houses that weekend was at its highest level all year. In addition, the average number of attendees at each open house was up 21 percent when compared to the same weekend in 2013.
Adding to the positive news was a report from the U.S. Commerce Department, which noted that single-family new-home sales surged in January to a five-and-a-half-year high. Reflecting on these numbers, Kevin Kelly, chairman of the National Association of Home Builders, was encouraged “that the cold weather that hit much of the country didn’t stop homebuyers from going out and purchasing a piece of the American dream.”
For consumers in the market to purchase a home, this is an ideal time to do so. By getting into the market now, buyers are more likely to get more house for their money. Given the current market environment, and as the weather improves and buyer activity accelerates, it is likely that new listings coming on the market will be priced higher. Taking quick action can help buyers take advantage of lower prices.
A bit of anecdotal evidence from the Blanchard Team: we listed 104 Tulip Street in Summit on 2/24 and had selected an offer – one of over ten – by 2/28. We also put 60 Lake Road back on the market this past Saturday, had six showings by Monday morning, already have two offers in hand and likely one more coming in.
If you are even thinking of selling this spring – there is no reason to wait for the snow to melt!
We can help you determine the value of your home in today’s market, no obligation!
If you are considering a purchase, start your new home search here, again, no obligation, and the search is NOT limited to Basking Ridge.
