2018 data shows that now is a great time to list in Laconia:
In 2018 the median "closed" price for single family homes in Laconia was the highest in over a decade, since the previous peak in 2006. Further, in 2018 the median number of days "Days on Market" for Laconia single family homes fell to just 37. That’s the fastest median pace in 15 years, since 2003.
The seller’s market is similar—arguably even more favorable—with regards to Laconia condominiums, which in 2018 sold at the fastest median pace (a remarkable 18 days!) since at least 1997 (as far back as available data goes in the New England Real Estate Network Multiple Listing Service database), and 2018 finished with Laconia's condominiums showing the highest median "closed" prices since 2005.
Whether you own a condo or single family home in Laconia, take note if you’ve been waiting for the right time to sell. Prices are peaking and days on market are plummeting. Homeowners who missed the opportunity to sell at the previous peak had to wait well over a decade for home values to recover.
In both cases, with single family homes and condos, the number of days on market tends to be inversely proportionate to buyer demand. A low number of days on market—which we clearly have now—suggests a high amount of consumers with high motivation and capability to buy.
Now that we’ve looked at a few of the “why’s” of selling, here are some tips on how to economically get your home ready for the quickest sale at the best possible price.
“How to” tips for selling:
Work from the outside in: If prospective buyers like what they see on the outside of your single-family home, they’ll be enticed to see the inside. If they don’t, they won’t.
Clean gutters, a tidy lawn and well-maintained grass, flowers and shrubs go a long way toward creating favorable impressions. Keep in mind that first impressions don’t just occur during scheduled showings; curious prospective buyers drive by homes all the time. It doesn’t have to cost owners any money to maintain their landscaping, but it could cost them a lot if they don’t.
Decorative shutters and window mounted flower boxes offer affordable options to immediately add charm and color to your home’s curb appeal.
Finally, if you have a functional but boring concrete walkway, you might dress it up with stone, clay or concrete pavers that can add complementary color, texture, and appealing width to your walkway.
Clean and cut clutter to close: Whether you own a condo or a single-family home, a clean, clutter free interior makes an amazing difference when showing a property to buyers. It sounds obvious, but it is crucial that your home looks livable. Prospective buyers can be easily distracted by clutter. Clean and declutter as though you are expecting very important visitors… in this case visitors who may want to give you tens or hundreds of thousands of dollars for your property!
Pay special attention to cleaning windows so your property looks great from the outside looking in and inside looking out. Consider removing drapes, curtains and valances so every possible ray of natural light penetrates the interior of your home. Just like lighting is important when filming actors, models or products, proper lighting will help your REALTOR® take the best pictures and give the best showing possible.
Paint for profit: Everyone knows you can cover up wear and tear, crayon marks and other sales distractions by painting walls. But did you know that paint color is an important factor that can affect a home’s selling pace and price?
Experts often advise choosing neutral colors when painting rooms, but some recent information suggests that fresh paint in the right color may actually help you sell your home more effectively. Zillow’s 2017 Paint Color Analysis studied over 32,000 photos from homes sold nationwide, in order to determine how certain paint colors impacted average sale price versus comparable homes with white walls.
Their findings suggest that homes with:
- blue or soft gray-blue kitchens sold for a $1,809 premium
- powder blue or soft periwinkle colored bathrooms sold for $5,440 more than expected (white bathrooms sold for an average of $4,035 below similar homes)
- light cerulean to cadet blue bedrooms can earn a $1,856 premium
- slate blue to pale gray blue dining rooms sold for $1,926 more on average than homes with white dining room wall colors
- front doors painted in shades of dark navy blue to slate gray sold for $1,514 more
- light beige, pale taupe or oatmeal-colored living room walls sell for $1,926 more
The bottom line is this: high prices and low days on market suggest now is a great time to list your single family home or condominium in Laconia. Please feel free to contact me if you’re curious how much your home might sell for in this seller’s market.
Brent Metzger is a Realtor® with Roche Realty Group. He may be reached by cell at (603) 229-8322.