December’s Saginaw Home Sales Were Like a Christmas Gift to
Buyers and Sellers
The thirty-one homes that sold in Saginaw in December were good news for both buyers and sellers. As multiple offers became less common, buyers were able to negotiate prices and ask for closing costs. Sellers paid their customary closing costs, and buyers were able to purchase a home without competing with several other potential buyers. Sellers received prices that reflected the steady appreciation for all of 2018, and the lack of inventory still brought eager buyers to sellers. The least expensive home sold for $155,000, which was $5100 over the list price. This home was built in 1955. The sales price for the most expensive home was $283,000. My statistics do not include new construction.
I am so excited about this new, more balanced market. After months of working with potential buyers who lost in bidding wars, this market gives me hope that I can again help families purchase their dream homes. Many sellers are also buyers, and the new, more balanced market will favor them as they purchase their new homes.
The most amazing news in December was the way that sellers paid closing costs for buyers who purchased homes for less than $210,000. Almost 60% of the sellers paid an average of $3141 in buyer’s closing costs. The closing costs paid by the seller ranged from $1000 to $7800. This closing cost assistance allows buyers to have bring less cash to closing. The sellers who paid closing costs for the buyers usually received at least a full list price offers for their homes; therefore, the sellers and buyers both benefitted.
Fourteen houses sold for more than $210,000. Ten of these had price reductions before they sold, and only one seller paid closing costs for the buyer. The prices were reduced either before the home sold as a price reduction shown in the MLS listing, or the lower price is reflected in the difference between the list price and the final sold price. When a home was listed for the correct price, sellers did well, receiving at least 97.83% of list price.
This is an excellent time to buy or sell a home! Please contact me to learn more about our market and how I can serve you.
The average days on the market was forty-one days. This average included eleven houses that sold in two weeks or less, and three homes that were on the market for more than a hundred days. The average days on the market is very deceiving because many homes sell immediately when they come on the market. Ofter a buyer is waiting for a home in a certain neighborhood or for an affordable price. Smart agents have these buyers on automatic searches that will notify the buyers immediately when these desirable homes hit MLS. The homes that were on the market for months may have needed a price reduction before they sold.
– Kathleen Wheeler –