To list or not to list, that is the question.
The Clinton County Real Estate market has seen more than its share of peaks and valleys over the past years.
In the past 10 years, it has been far more valleys than peaks. As the global economy recovers and new employment opportunities move into the area, the local real estate market has converted from a buyers’ to a sellers’ market.
Five years ago, it was typical for a home to be on the market for well over 90 days. Many would have multiple price reductions and some would never sell.
The lucky seller would eke out enough to pay the fees of selling and not have to bring money to the closing table. The term “short sale” was coined, meaning the bank allowed the sale of a property for less than what the borrowers owed on the mortgage.
It is a pleasure to be able to report that this is no longer the case!
If the price of the property is fair and the condition of the property is average to above, the typical days a property is on the market has fallen to 53.
We are even seeing properties go into multiple offers and settling on prices higher than listing price. Typically, properties are selling at approximately 97 percent of their asking price.
At the time of writing, there were only 102 residential properties on the market in all of Clinton County. Potential buyers are vigilantly watching the new listings and making immediate appointments to view new property listings.
So, to list or not to list … the answer is absolutely! Give your favorite realtor a call for a free market assessment on your property.
Sheri McIntosh is Vice President of the Clinton County Board of Realtors.