NAR's 2024 Membership profile shows the impacts of a difficult market on real estate professionals — many of whom are contending with issues related to affordability and inventory.
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Market Changes Can Make Sellers and Realtors Nervous In Victoria, we’re accustomed to the comfort of a seller’s market, but from time to time, we move into a balanced market—and rarely, a buyer’s market. The recent rapid shift from the most extreme seller’s market in history to a balanced market has left many residents and newer agents feeling nervous and anxious. Seasoned realtors, sellers, and buyers will understand this shift and remain calm. This should be the goal for everyone. In a balanced market, we adapt our strategies and know what to anticipate, as well as how to proactively approach the market. At Platinum Key Properties, we are happy to share our strategies with clients and fellow realtors. Our open book and transparent mindset follow the philosophy that ‘we can all win together.’ If you have questions about navigating a shifting market, we’re here to help. Additionally, we highly recommend “Shift” by Gary Keller as an essential read for understanding these market dynamics. Thank you, Travis Koivula, CFA, CFP, CIM, FCSI, CSWP for posing such a relevant question.
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According to CoreLogic's October chart pack, the median time to sell a property in the September quarter was 30 days nationally. This is a down from January 2023, when the national average was 36 days. The faster sales align with the rebound in the market; CoreLogic's national home value index has risen 6.6% since January. These aren't the only signs that sellers are regaining the upper hand in Australia's property markets. CoreLogic data also reveals that the median vendor discount improved to -3.8% in the three months to September, up from -4.3% at the end of last year (see image). In such a market, the risk of succumbing to FOMO – the fear of missing out – and overpaying for a property is high. One effective way to mitigate this risk is to work with a buyer's agent. They can help you identify quality properties aligned with your investment strategy, using their knowledge and expertise to help you negotiate a fair price. #property #propertyinvestment #realestate —----- Want to build a wealth-generating property portfolio? We can help you buy high cash flow and growth properties around Australia using our data-driven strategy. Book a Discovery Call today to get started: https://lnkd.in/gTPADw4y
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Summit County Market Stats | January 2024 Review In January, Summit County saw 61 residential transactions totaling $84M in sales volume, and when compared to January 2023, transactions last month were up by 15%. At the beginning of February there were 357 active listings in Summit County (305 residential & 52 land). Although this is a 32% increase in inventory compared to this time last year, it’s still considered to be limited. Want more market stats? Click the link below!
How's The Market
themooregroup.summitcountyrealestate.com
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Curious about the Market and what you can sell your property for? Here are some current Market Stats. I would love to help you on your next steps in Real Estate, Buying or Selling I'd love to help you! Referrals are the best form of compliments for me and my business. 🏡 ✨
Current Sales & Price Statistics
car.org
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Great source of information on our local housing market. I think the amount of cash sales is the most surprising of all the stats in this report....
Palm+Beach+County_Single+Family+Homes_2024-04_Detail.pdf
static1.squarespace.com
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This article outlines the stats for Realtors in the past year. Don't become one of these statistics in 2024. Book a consult with me and let's get you in the 20%!!! https://lnkd.in/g5EW-T4m
DataDigest: Study shows agents are aplenty, most with few or no sales - HousingWire
https://www.housingwire.com
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The UK Property Market for the week ending Sunday, 3rd March 2024 (Week 9) continues on a good track with regard to transaction levels and house prices achieved. In this week’s UK Property Market Stats Show on YouTube with myself & Bryan Mansell, the headlines are as follows .. · House Prices on Sale Agreed homes in February £338.77/sq.ft (Jan ’24 to £331sq.ft) · Listings for last week (Week 9), like last week, are 10% higher than Wk 9 average (2017 to 2024). · Total Gross Sales YTD are 11.1% than 2023 YTD levels & 8.4% higher than 17/18/19 levels · Net Sales last week 14.5% higher than Week 9 2023 · Sale fall-throughs dip to below 1 in 5 sales. 🔗 YouTube Link to The Show - https://lnkd.in/eKjV7VSH Watkin's Reflections: I know I keep banging on about, yet it's vital to remember that in 2023, only 52.8% of the properties listed by UK estate agents resulted in an exchange of contracts (and thus you got paid on them). A flip of coin if you get paid (or not) is not good odds. This low success rate can largely be attributed to issues within the estate agency sector itself. These include the intense competition to secure instructions with the temptation to provide excessively high valuations to win a listing bonus or outdo rivals. Estate agents must improve their methods, embrace cutting-edge marketing strategies, and offer advice that genuinely meets the needs of sellers, even if that means you walking away and getting it second time round. Also, let us not forget 50% of the people who moved home in 2023 had only been in their home for an average 6 years and 11 weeks! Yet only 1 in 8 go back to the agent they bought off!. What the hell are you doing UK Estate Agents - why are you not keep in touch with your old buyers and vendors? Both sets of figures highlight the importance of managing both our own and our clients' expectations realistically and developing effective marketing and nurture campaigns. Doing so can greatly enhance the likelihood of success and ensure that estate agents are not merely participants in the property market but are leading it Christopher
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Summit County Market Stats | May 2024 Review In May, Summit County saw 96 residential transactions totaling $132M in sales volume, and when compared to May 2023, transactions last month were down by 4%. At the beginning of June there were 624 active listings in Summit County (547 residential & 77 land), which is a 59% increase in inventory compared to this time last year.
How's The Market
themooregroup.summitcountyrealestate.com
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#PropertyNews 𝐇𝐨𝐮𝐬𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐫𝐮𝐠𝐬 𝐨𝐟𝐟 𝐠𝐞𝐧𝐞𝐫𝐚𝐥 𝐞𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐜𝐨𝐧𝐜𝐞𝐫𝐧𝐬 𝐚𝐬 𝐛𝐮𝐲𝐞𝐫 𝐜𝐨𝐧𝐟𝐢𝐝𝐞𝐧𝐜𝐞 𝐬𝐮𝐫𝐠𝐞𝐬. 𝑻𝒉𝒆 𝒆𝒍𝒆𝒄𝒕𝒊𝒐𝒏 𝒊𝒔 𝒍𝒆𝒔𝒔 𝒖𝒏𝒑𝒓𝒆𝒅𝒊𝒄𝒕𝒂𝒃𝒍𝒆 𝒕𝒉𝒂𝒏 𝒎𝒐𝒔𝒕, 𝒂𝒏𝒅 𝒕𝒉𝒆 𝒓𝒆𝒔𝒖𝒍𝒕 𝒊𝒔 𝒑𝒓𝒆𝒕𝒕𝒚 𝒎𝒖𝒄𝒉 𝒇𝒂𝒄𝒕𝒐𝒓𝒆𝒅 𝒊𝒏. ➡ Despite the usual concerns around the upcoming general election, our latest Property Sentiment Index suggests that buyer confidence increased significantly in May. Buyer sentiment was on the up and seller confidence also increased, though less dramatically, improving by a couple of percentage points. What does this show of both buyer and seller confidence mean for the housing market in the coming months? - 85% of active buyers in the UK were confident they would purchase a property within the next 3 months - 63% of sellers in the UK were confident they would sell their property within the next 3 months - 43% of properties were Sold Subject to Contract (SSTC) within 30 days of first being advertised for sale, compared with 32% in January 2023 Buyers factoring in higher borrowing costs and remain sensitive on price Jason Tebb, discusses the insights from our latest report: "Despite the looming general election, the housing market is bucking the trend, apparently shrugging off any concerns about the prospect of a change in government, with no evidence of a slowdown in activity or buyers and sellers putting decisions on ice. Indeed, our data shows that May saw a significant surge in buyer sentiment to the highest level seen this year, soaring to 85% from April’s 64%. It is testament to the remarkable resilience of the housing market that 85% of active buyers were confident they’d buy within three months. A surge in market activity, more stock becoming available, improving weather conditions, and inflation moving in the right direction mean buyers feel they are in a strong position and able to proceed with their purchases in a timely fashion." Via Onthemarket.
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**🍊 Daily Juice: Top 3 Stories You Can't Miss 🍊** 🔍 Stay ahead with today's essential insights for real estate agents, salespeople, and entrepreneurs aiming to boost their business. Dive into the latest trends and updates: - **Best Strategies for Training Sales Teams** * Explore how to train salespeople effectively by focusing on consumer outcomes over product features. Learn more [here](https://lnkd.in/gxaJn877). - **US Home Sellers Cutting Prices: What's Next?** * A report from Redfin reveals that more home sellers are lowering their asking prices, indicating a potential slow down in sale-price growth. Details [here](https://lnkd.in/gaCEGEGE). - **May 2024 Housing Market Trends** * Realtor.com's latest report shows a 6.2% increase in newly listed homes this May compared to last year, along with median price updates. Discover the trends [here](https://lnkd.in/gBFM3jMt). Stay informed and stay ahead! 🏡📈 #RealEstate #SalesTips #
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