Is Now a Good Time to Sell?
One question I often get asked: “How’s the market?” Lately, I’ve been telling people that the market slowed the end of 2022 but it started picking back up in 2023. On the one hand, we still have low inventory and there are still people that are in some kind of living situation they aren’t thrilled about. On the other hand, interest rates are higher than they were this past spring and summer so the market isn’t as crazy as it was in the first half of 2022. I then give this vague statement, “If you have a nice home in a good neighborhood, you are still likely to get multiple offers and sell for over asking price.” That statement is based on my anecdotal evidence helping clients buy and sell homes and talking to other agents in my office. To those people that heard this from me, let me apologize for my vagueness. Being a dyed-in-the-wool engineer, I decided to do a little research to test my hypothesis.
My litmus test: all single family home sales in Johnson county, Kansas in the last 30 days (January 23 to February 22, 2023). This includes new home sales and sales of existing homes. For those folks reading this not living in Johnson county, please give me a call and I would be happy to perform this same analysis for your neck of the woods.
What I discovered were 373 home sales, ranging in sales price from $100,000 to $2,672,000 and age from still under construction to built in 1900. The median, or typical, home sold has the following specifications:
Here are the sales stats for this typical Johnson county home:
So, while the above statistics don’t directly prove my vague claim, they do support it. If all you have is a “typical home” in a decent area, it will likely sell at a strong price provided it is prepared and marketed well. That’s where a hard working, diligent real estate agent comes into play. If you are considering selling your home, even if your timeline might be a little ways off, please feel free to give me a call for a free, no obligation consultation. I promise, I’ll give you my honest opinion!
Do you want to see some charts from my 30 day Johnson county home sales analysis? Check out my blog post:
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By the way, if you know of someone who would appreciate the level of service I provide, please call me with their name and contact information.
Have a Great Day!
Brian Reinhart
Keller Williams Diamond Partners, Inc.
Your KC Agent, licensed in KS & MO
(913) 475-8331