How Do Home Sellers Compete With New Construction?


New construction in St. Charles County is HOT right now.  Sellers are losing buyers to the "shiny, new product" on the market.  So, how do you compete?


First of all, you can compete with the price.  Typically, new construction is much higher in price per square foot.  You should price your home at fair market value....and don't think you need to allow negotiating room.  A home priced right in today's market should sell for about 98% of list price OR BETTER and should have an accepted offer within 60 days.


Second, make sure your light fixtures and bathroom fixtures are up-to-date.  Chrome faucets and brass light fixtures will stand out in photos and will make your home look as though it needs to be updated.


Third, either replace carpeting or have it cleaned.  New carpet, fresh paint, new window treatments and staging can make all the difference.  Buyers will more than likely find your home online, so the photos need to be professional and not taken with an iPhone.


Many buyers do not want to wait 6 months to get into their new construction home, so if your home is priced well, staged with some basic updates, clean, well-photographed and marketed by a good Realtor, you will have some success.


Make sure your Realtor takes the time, prior to putting your home on the market and having photographs taken, to make sure the property is looking top-notch and ready for the most discerning buyers.

What is My St. Charles Home Worth? Homes Sales in St. Charles 63301

October 2014 Update

 As we headed into the Holiday season, home sales in the St. Charles 63301 zip code dropped as far as the number of sales from September, but the average sales price increased...and that's good news!   

This report is for single family homes only and NOT condos.  I’m covering zip code 63301 only.  That means that any St. Charles homes in other zip codes are NOT covered in this report.  This report is informational and for the best advice for you as an area home buyer or seller, please contact me for a specific review of your needs.

All data is derived from the St. Louis MLS system.  If any St. Charles homes traded hands without a Realtor® involved, it won’t be reflected in this report.  All data is for the 63301 zip code only.   Percentages reflect increases or decreases from September 2014 statistics.

The 63301 zip code offers a diversity of living choices, with a focus on affordable housing.  Much of the zip code area is easily reached by I-70 and I-370.

St. Charles 63301 Single Family Home Category Data Summary:

 

Homes Sold:                       40  (2 Bank/Government foreclosures)                  DOWN:                 37.5%

Average Price:                   $177,391                                                                       UP:                         2.8%

Days on Market Avg.:       58                                                                                           NO CHANGE

Avg. Price per Sq. Ft.:       $107.66                                                                         UP:                         2.8%

Average Sales/List %:       95.63%                                                                          UP:                         1.5%

Most Expensive Home Sold:                                       $555,000

Least Expensive Home Sold:                                       $ 52,500

Number of Homes Currently For Sale:                      159

 

What can we determine from the latest statistics?

• While sales volume may have dropped from the previous month, it’s still a strong month.
• Days on Market is pretty solid, with homes selling in just under 2 months.
• Distressed properties (foreclosures) have minimal impact at this point.  Less impact there means better pricing for the rest of the market.
• Sales prices increased along with the average price per square foot.  The increase of the sales to list price is always good news.

What does this mean to you as a St. Charles single family home owner?

Home sales prices are rising and selling quickly.  It’s still critical to price right, prep your home, and hire a Realtor®.  Don’t forget, you also have new construction competition.

For an evaluation of your specific home’s marketability, please contact me at (314) 348-4033.

What does this mean to you as a potential St. Charles 63301 home buyer?

If you find a home that suits you, don’t delay acting or you may miss out on your opportunity.

St. Charles still continues to be a VERY affordable place to buy a home.  There is some new construction available, and PLEASE, have me help you for new construction.  The builder will NOT cut you a price break for showing up unrepresented, and using my services will NOT cost you a thing!

When you’re considering buying a St. Charles area home, please contact me at (314) 348-4033 with your needs and I’ll help you find your ideal home!

 

For your convenience,  CLICK HERE  to search for a home anywhere in the St. Charles and St. Louis area.