Timing

As discussed, historic median home prices tend to be highest in April-June, drop a bit during mid to late summer and then have a window of picking back up in the fall. Homes under contract in December and sold in January tend to sell at the lowest median home prices.

Comparable Properties
Click Here > https://portal.onehome.com/en-US/share/1304278H19305

Based on 12 comparable sales, the market supports a listing price of $445,000 if it is staged, and we can reasonably expect a sale within 30 days, assuming the insurance renewal proceeds smoothly. However, if activity is slow, we will want to do a price drop at approximately 3 weeks of listing.
Pricing slightly below market at $420,000 may accelerate the sale although multiple offers appear unlikely.
We can test the market at $460,000, however, I do not recommend it. I have concern that if an offer is received at this price, the appraisal will come in lower, and the purchase price will need reduced. You also run a much higher risk of staying on the market for 2 months or longer.

Key Features

• Pros: Proven financing, great layout, no stairs

• Cons: Street parking difficult, limited updates, rental cap may be reached, limited community amenities, street facing

Staging Recommendation
10 of the 12 comparables were professionally staged, and buyer expectations for this size home favor staging. I strongly recommend staging to maximize appeal.

Agent Compensation
Fourteen of the 9 of 13 comparables offered 2.5% to the selling agent. To remain competitive, I advise matching the offer.

Days on Market
The average cumulative days on market for the most similar comparables is 31 days, including listings still active. Proper pricing, staging, and marketing should help us beat that timeline.

Summary of Single Family CMA 2 Line:

1. There is a high level of inventory on the market right now….meaning a lot of competition.

2. The average days on market of the active 2 bedroom condos in your area are 72 days.

I expect many of these listings to be taken off the market.

3. The average days on market of the recently sold 2 bedrooms is 41 days.

4. The median sales price of the 2 bedroom 2 bath condos in the area are $400,000.

This means that we should anticipate at least 6 weeks on the market. I do feel that your condo is more valuable than the average 2 bedroom in the area based on previous sales.

Net proceeds

This is the estimated net proceeds for your sale at the different price points. Keep in mind, agent compensation, price and staging costs are estimates and variable based on the positioning of your competition. Please talk to your CPA to confirm no Capital Gains Tax will be owed.

Click here to download net proceeds

LISTING TIMELINE + NEXT STEPS

ASAP

• Order Resale Certificate and Condo Questionnaire

Other items TBD

MARKETING MIX

• On-site showing directions

• On-site amenities list and link to access resale certificate

• Professionally designed flyers and print materials

• Custom listing website (click here for example of current condo listing)

• Open house as needed

• Informational text message to all scheduled showing agents with detailed showing instructions

• Professional photography

• Social media marketing blitz

• Walkthrough video