Rancho Santa Fe Real Estate: Buy AND Sell in 2014!

2014 buy and sell real estateAccording to real estate analysts at the National Association of Realtors (NAR), 2014 is a seller’s market!  Here in Rancho Santa Fe, the Katie Hawkes Group expects this trend to stand true as well.  Last year saw prices surge more than 10% in many markets, with homes routinely selling for over asking price in some cities.  The average price for a single-family home in November 2013 hit its highest price since August 2008, according to the latest data from the NAR. In addition, homes are selling more quickly, with homes selling  on average 11% faster in November 2013 than a year prior, with many cities exceeding that average.

 

“All in all, it’s a good time for people to put their home up for sale,” says Celia Chen, senior director with Moody’s Analytics.

 
This upswing comes roughly seven years after the housing bust, amid signs that we’re on our way to economic recovery.  More people have jobs, consumers are more confident, more buyers are entering the market and more sellers are discovering that they have leverage in negotiating the sale price of their homes.

 

As for-sale listings dwindle and mortgage rates rise, buyers are feeling a sense of urgency, fueled by the possibility that affordable real estate in their market may be short-lived.

 

The bottom line? NOW is the time to sell, AND to buy – which is a rare state in the real estate market!  As a buyer you benefit from mortgage rates that are only going to rise, and as a seller you benefit from a large number of buyers on the market.

 

If you’d like to know what this information means for you, or if you’d like to know how much the price of YOUR home has increased, give Katie a call at 858-922-2226, or visit the Katie Hawkes Group’s Rancho Santa Fe Real Estate website!

 

Translate »