Welcome to Market Tracker, an exclusive report that informs you of residential real estate sales activity and regional trends. Please contact me if you would like more information on current market trends.

 

 

 

Total Homes Sold April 2016 8    -20.0% (10) from Apr 2015 Median Sold Price April 2016 $314,000   Average Sold Price April 2016 $301,375 Total Monthly Inventory All Listing Types, April 2016 171 Total Units 132 Single Family Homes 25 Condos/Co-ops 14 Land/Lots Average Days on Market April 2016 100 Days   Average Price per SqFt April 2016 $197 Year-to-Date Homes Sold January – April 2016 28    -12.5% (32) from YTD 2015 New Listings April 2016 22    -58.5% (53) from Apr 2015 Percentage of Asking Price April 2016 97% Monthly Supply of Inventory Absorption Rate Homes for sale divided by number of homes sold Homes Sold by Price Range Homes Listed by Price Range

 

 

 

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The statistics presented in Market Tracker are compiled monthly based on figures and data generated by the Multiple Listing Service. Due to possible reporting inconsistencies, Days on Market (DOM), average prices and rates of appreciation should be used to analyze trends only. Property and statistical data derived from from this information is solely for your personal, non-commercial use in buying or selling a property and is deemed reliable but not guaranteed and should be verified. All representations and warranties regarding the information are disclaimed. Reproduction or any other use is prohibited.

 

 

Welcome to Market Tracker, an exclusive report that informs you of residential real estate sales activity and regional trends. Please contact me if you would like more information on current market trends.

 

 

 

 

 

Want More? Personalize your reports on my website Create an Account Already have an account? Sign in

 

The statistics presented in Market Tracker are compiled monthly based on figures and data generated by the Multiple Listing Service. Due to possible reporting inconsistencies, Days on Market (DOM), average prices and rates of appreciation should be used to analyze trends only. Property and statistical data derived from from this information is solely for your personal, non-commercial use in buying or selling a property and is deemed reliable but not guaranteed and should be verified. All representations and warranties regarding the information are disclaimed. Reproduction or any other use is prohibited.

 

 

Welcome to Market Tracker, an exclusive report that informs you of residential real estate sales activity and regional trends. Please contact me if you would like more information on current market trends.

 

 

 

 

 

Want More? Personalize your reports on my website Create an Account Already have an account? Sign in

 

The statistics presented in Market Tracker are compiled monthly based on figures and data generated by the Multiple Listing Service. Due to possible reporting inconsistencies, Days on Market (DOM), average prices and rates of appreciation should be used to analyze trends only. Property and statistical data derived from from this information is solely for your personal, non-commercial use in buying or selling a property and is deemed reliable but not guaranteed and should be verified. All representations and warranties regarding the information are disclaimed. Reproduction or any other use is prohibited.

 

 

We’ve all heard what the latest trend is that will help your house sell quickly and for top value.  Currently, according to “Zillow analysts” who track keyword in search criteria, the top buyer demands are farmhouse sinks, subway tiles, quartz countertops and barn doors.  Economists at Zillow have researched over 2 million homes that sold between January 2014 and March 2016 to determine which keywords influence, or result in, final sales.    The Zillow economists found a total of 60 keywords which were notes to affect sales prices and days on market.

According to Zillow statisticians, homes with barn doors sold for an appreciated value of 13.4% more than the average home; properties with shaker cabinets added 9.6% premium to the sales price of the average home; and residences with farmhouse sinks also added 9.6% more in value and also sold an average of 58 days faster.  Another surprising fact is that quartzite counters have beat granite counters in popularity.  Even though many love the look of Carrera marble counters, but prefer the Quartzite for easier maintenance and durability.  They are sought after because of their easy maintenance.  Granite counters require periodic use of sealing products to prevent stains and damage.

Today’s buyers not only appreciate natural materials such as wood and stone but also seek modern technology, such as colored lights that can turn a shower into purple rain.  The ability to combine rustic design with modern amenities seems to be the ideal combination in today’s market.  Their choices are environmentally friendly and easy to maintain.  Americans are busy – often too busy – and don’t want to commit what free time they have to the upkeep of their home.  Buyers seek the comfort of tradition found in farm sinks and barn doors, while also appreciating the technology advances found in countertop material and technology.  A perfect blend of nostalgia with modern advances!

Outdoor kitchens are becoming increasingly popular in our area, and there are numerous ideas on how to optimize your outdoor experience. Initially, outdoor kitchens and entertaining areas began on the West Coast, where outdoor gatherings are common all year long. The rise in popularity in New England resulted from people trying to maximize their summer fun that is focused around the barbecue, without running in and out of the house to access the kitchen.

As with any other home improvement project, the price of this renovation can range depending on the scope of the project. A variety of products are available to choose from when designing your space – as simple as a built in grill with counter to as elaborate as a pizza oven, outdoor television, warming drawer, granite counters or outdoor fireplace. The possibilities are endless!

The fire pit or fireplace has become a staple in many backyards and allows enjoyment of outdoor space well into the fall. The outdoor kitchen is most often built alongside a pool, spa or central gathering area. It is important to consider how you will use the space, what would be the best layout, the type of appliances to be installed, the material for countertops and flooring and whether or not the kitchen should be covered. A covered kitchen can accommodate ceiling fans, speakers, or lighting and protect your investment from harsh New England winters when not in use. Other considerations for our climate include outdoor heaters to extend the season and screened areas to protect from pesky flies and mosquitoes. Make design decisions that enhance your lifestyle.

The outdoor kitchens featured in magazines and television shows may look ideal, but do they comply with local regulations.  Remember to check with your local town government for information on permits and regulations.

Outdoor entertainment areas may add value to your home, but will not guarantee a full return on your investment.  If you don’t plan on staying in your home for years, it might be wise to spend more on high-end outdoor furniture that will showcase your space, but you will be able to take with you when you move. Be certain to invest in landscaping. It not only adds curb appeal, but also adds color and texture to your outdoor space.

An outdoor kitchen allows homeowners to expand their entertaining footprint and to enjoy more time outdoors.  It is an easy way to cook while surrounded by friends and family, and to keep the inside of the house clean while entertaining!

• Golden Retrievers! I’m a pet lover who thought everyone loved Golden Retrievers, since they are among the friendliest of “man’s best friend.”  If you’re marketing your house, moving the dog to a screened porch or location outside of the house may not be enough.  At one showing, I’d put the Golden Retriever out on the screened porch, but when the agent arrived with her Buyer, the Buyer refused to come in until I put the dog in my car and moved my car down the street where she couldn’t see it.  Lesson learned – even if you have the sweetest dog in the world, not everyone loves dogs (cats, birds or fish), so make arrangements for your furry family member to be out of the house for showings.
• Music – soft music playing is thought to set the mood for the house during showings is a popular sentiment. I thought so too, until one day at a showing, Rod Stewart’s “Do You Think I’m Sexy?” started blasting out of the speakers, the Buyers were laughing and distracted, so I dashed to find the volume control.  Don’t trust Pandora or Spotify to play the kind of music your buyers might want to hear.  Classical music may be soothing and peaceful, but if the Buyer arrives with Linkin Park blasting out of their car, it won’t be an ideal match.
• Snacks and personal items – before you list your home, be certain all your personal belongings are safe, secured and out of sight. At one home inspection, not only was I present, but also the Buyer’s agent, the Buyer and their 3 children.  The home inspector brought snacks for the kids.  Surprisingly, some parents do not watch their children and in this particular instance, just as I was setting one child up at the kitchen island to eat a snack, another child went streaking through the 1^st floor with another sibling chasing her.  I gave chase (wondering how the child got out of the clothes so quickly), trying to make sure no family photos or Lladro figurines were falling during the mayhem.  Once your home is on the market, it’s time to stop thinking of it as “your home;” it’s now become a commodity for sale.  Pack the items away safely!
• Cooking, candles and other scents – At one listing, the couple both worked from home and enjoyed cooking throughout the day. We had a showing scheduled and when the Buyers walked in, they were immediately offended by the smell of whatever the Seller had prepared that morning.   Another Seller followed the old advice that “baked cookies” make your home smell appealing to Buyers, and a third seller had several different scented candles burning throughout the home.  In each of these cases, a Buyer discounted the house as a possibility saying they couldn’t stand the smell of whatever food had been prepared; by the concern that the Seller was trying to cover something up something suspicious, and in the third instance, the Buyer was sneezing so hard that she couldn’t even complete the tour of the first floor.   The best and most cost efficient thing a Seller can do is clean (and yes, we repeat that phrase often), but not with bleach.  Some Buyers perceive the smell of bleach as an effort to remove mold.

After “location, location, location,” floor-plan is the next on a buyer’s list of priorities. In 2013, the size of a typical new single-family home increased, a continuing post-recession trend. The use and purpose of a home has evolved over the decades along with lifestyles and family size. In the 1950’s and into the mid-1960’s the American home had a large percentage of stay-at-home women. Formal entertaining in what was once called a parlor evolved into a formal living room that children were rarely allowed to be seen in. Frequent and formal dining room entertaining was a weekly event linked to that era and lifestyle. As more and more women found careers and economic demands required families with two working parents, the use of a formal living room or dining room became less and less necessary. Today many dining rooms double as libraries or home offices.

Are buyers looking for the most square footage for their dollar or is it something more? Based on personal experience, buyers are more interested in use of space, rather than just size. One of the most important things I’ve learned as a Realtor is that floor-plan is more important than square footage – a smart layout can make all the difference. Reducing excess or unused space and learning to live large in smaller homes has become popular. Buyers have become more concerned with “purpose of space.” Formal living rooms and dining rooms are no longer essential in today’s busy life, and are often times looked upon as unnecessary space that must be heated, cooled and cleaned, particularly by the millennial age group. Instead, other spaces have gained in popularity – an office, a mudroom, spacious family or great room, and a large laundry room are often found on most “must have” lists. Abundant storage is another sought after element. Buyers tour listings and look to see if there’s a place for everything, and everything in its place. Larger homes are still sought by families who need space for children, pets, in-laws and all the belongings that come along with them. Regardless of house size, buyers want to see that they can live clutter-free in their new home and be assured that their family’s belongings will be stored easily.

In addition to efficiency of space, buyers are concerned with costs of maintenance and utilities. On-demand hot water heaters always draw an enthusiastic response, and new generation solar panels, geo-thermal heat or any other green features will often relieve buyers’ concern about cost of energy bills.
Shopping for your new home is similar to dating – it’s the search for the “right one!” Each person’s lifestyle is unique, so look for the features that are most important to you. If every holiday is held at your house, then a dining room and large entertaining space might be at the top of the list. If you work from home, then the home offer will be important. Make a list of what you need and then compare each house you tour to the list. Before you know it, you’ll find the home of your dreams that best enhances the life you live.