Yikes, 2020 started with a bang and January flew by so fast people are saying February is the new January! This year opened with an increased pace in the real estate market overall. In January, we had 132 homes close in an HOA subdivision in the city of Maricopa. This is about a 10% increase over the amount of closed homes for the same time period in 2019.
We also started the year off with a low inventory of homes available for sale. Currently there are 228 active homes available for sale in an HOA subdivision in Maricopa. From this number, 170 of these homes are resale homes and 58 are new-build homes. What does this mean?
If you own a home in Maricopa and are thinking about selling, now is truly a terrific time to sell. A home that is positioned to sell has an average days on market of 61 days. This is from the time of listing the home to the time of closing. What will help your home sell within this time frame or with even fewer days on market? A clean home, a decluttered home, and a well-maintained home will help your home sell quicker.
There is always some preparation work that needs to be done before you put your home on the market. This does not mean you need to spend a lot of money, but you may need to do a little work before listing your home. Your Realtor can help you determine what you need to do to get your house ready to sell.
Pricing your home right is important too. It is important to look at comparables and then add in any upgrades you may have done to your home. Most homes have an appraisal done during the escrow process and it is vital to price your home so that you have no problem with the appraisal. Know the marketing plan your Realtor has in mind for your home. Each home is unique and requires a different level of marketing.
If your home is just sitting on the market, it may be overpriced or there needs to be something done to the home to make it more sellable. It is going to be a great year in real estate. Interest rates are expected to remain steady. With Maricopa still being one of the more affordable communities to live in, it is still a great time to sell and to buy.