Real Estate Market Update Q4 2022
Here’s your quarter 4 2022 real Estate Market Update. What we found is that homes have increased year over year in comparison to 2021 and 2020, around the fourth quarter of the year. Also, we noticed during the last quarter of 2022 that the sellers market shifted greatly, meaning that it was no longer a super hot sellers market, but a more calmer sellers market. And so homes that were priced well in desirable areas and updated, they still possibly had bidding wars or sold their home pretty fast versus homes that did not homes that did not meet those three criteria, they were on the market a little bit longer.
And we’re still seeing that going into the first two weeks of 2023. And so what you can expect in 2023 is a lot of this behavior. So if the home is priced well, updated, and in a desirable location still may have been more still pretty fast. While if you don’t like I said, the ones that do not when you decide to sell your home, you want to be mindful of the pricing.
You may want to ask your realtor what’s best. They should be preparing you for this because if you have a timeline that you really need to sell your home, you want to make sure that you’re priced properly to reflect getting that timeline of selling your home. Meaning you may not want to just reflect on what sold recently and use that pricing right, because that’s pricing in a different market. You may want to price according to, “okay, we may have more competition this year, may not have as many buyers for my home. So let’s price the way where I can still get top dollar. But also I’m not waiting three to six months to sell my home. I want to sell my home in a month, right?”
Because you may have goals to purchase another home. So that’s something to keep in mind and make sure you talk to your realtor or real estate broker about what is best for you and also think about the little things you can do. Maybe you want to get new paint on your home. Maybe you want to make sure your carpet is thoroughly cleaned so it looks like it’s brand new. Anything you can do to get that buyer when they walk in your home. To feel like this home is as. Best as new as possible, because the more it looks as if it’s brand new, the more desire that buyer will have. And that’s something very some things are just very simple things that you can do without putting a lot of money into your property in order to get it sold and sold at a good price in the time frame that you need.
Also, you want to make sure the realtor you choose is doing the proper marketing and giving you the best opportunity to get your home with many potential buyers in their view and present it well because you only have one good one first impression, and that’s going to be online. So a lot of people don’t realize. But a lot of times they miss out on bidding wars or potential buyers for their home based on how the Realtor has made that home look online.
So having a Realtor who is passionate about marketing or knows what it takes to really market a home is going to be very important this year. So that’s basically what I wanted to go over. If you have any questions leave a comment below, you can probably message me. You can email me at [email protected]. And as always, close with Patrice.
This has been Real Estate Market Update Q4 2022 by Patrice Henderson. Be sure to check out her YouTube channel here and to get the latest Michigan real estate market report, submit your request here.