Barb Schlinker The Real Estate Voice

Barb, the August real estate market numbers are out and this market is RED Hot, Tell about the trends you are seeing…o   Two Strong Indicators for August:o   Available Inventory down by 51% from 1 Year Ago● Typically we are seeing over 2000 available homes on the    market at this time● Currently only 1079 Single Family Homes available in El Paso Teller & Elbert CountiesTotal Number of Homes that Went Under Contract UP by 22%Average Days on Market = 19 DaysAverage & Median Price Increased in Just 2 months!August Results:Month Supply = # of Months to Sell all Inventory by Price RangeBuyers:  Make great offers…Last week: Price $359,999, Offer $340,000, lowered price to $349,999Got a full price offer and $340K buyer lost outSellers:  Respond to Market Trends…●More than 10 showings – no offers – Priced too High●Make sure your home is NOT DATED – if so price accordingly or updateo   Just cosmetics:●Mis match appliances●Kitchen Counters●Tired Flooring●Gold Hardware●Gold Light Fixtureso   Just listed a home