KEATINGTON 2022- OH MY! WHAT A YEAR!
Bravo everyone! In the last two years, we all did very well with our property values here in Keatington. As with any market, what goes up, eventually corrects. But should we worry? Not even a little.
Sourced directly from our MLS, is Keatington's 3-year history below.
Note the increase in the average dollars per square foot and the average sale price since 2020! We’ve all made money on our homes. Also worth noting is regardless of the see-saw market, the number of sales are stable year over year. This is a solid performance.
Economists are predicting the market will favor buyers in 2023. We've had an unprecedented seller's market for 12 years. Historically, the real estate market shifts back and forth from a seller's to a buyer's market every 8-12 years, so we are due; but this shift is different. Unlike the five previous market shifts since the early 80s, this one is government-manipulated and intended to curb inflation and runaway home prices.
In my opinion, the Feds acted too late and over-reacted, which resulted in a sharper correction than is necessary. Had they gradually increased interest rates from 2.7 percent to a reasonable 4-5 percent, our market would have softly stabilized. Nonetheless, after selling (and buying!) homes with 16% interest rates, we certainly know how to navigate 7% rates. Our listings are still selling quickly at close to asking, and occasionally with multiple offers. The market is still brisk here in Keatington.
If you're thinking about selling in the coming year, here are some things to consider:
Selling your home for the most money in a buyer’s market takes a fresh, modern approach than the last few years. Get solid advice on what to expect and how to prepare your home. A good agent will offer sound advice and never pressure you.
Consult with an expert before investing in upgrades. Some improvements add value, and some are a waste of money. As an accredited home stager, I can help you make the best investment decisions on upgrades. There's never any pressure from us; we are happy to share what we know.
Consider hiring your own home inspector to examine the condition of your home every few years. It can be an excellent investment even if you're not planning on selling. They will find things that need attention before they become big problems. Call us for references.
You can still sell as-is. We always have a list of buyers looking in Keatington who will buy your house as-is, where-is. Roger and I also buy homes for cash here in Keatington when, for a variety of reasons, sellers want to avoid the listing process entirely. We’re happy to talk to you about that. As with all of our consultations, they are always confidential.
Every challenging market offers an equal amount of opportunity and we’re looking forward to 2023! We've been retooling our marketing strategy since the first interest rate increase in early 2022. The old ways of selling a home simply do not work anymore if you want top dollar.
If you’re interested in what I mean by a fresh, modern approach to marketing a home, request a free copy of my book, "The No-Nonsense Guide to Selling Your Home in Lake Orion." Visit www.theintegrityteam.com or scan the QR code below with your camera.
While it’s true we love our neighborhood and specialize in selling properties here, we're happy to show you homes anywhere in the area. We also love answering random market questions!
That’s our take on the market here in the best neighborhood ever. We wish you a peaceful and prosperous 2023!
See you around the neighborhood,
Gwen and Roger Daubenmeyer
248-840-3434 Mobile
Associate Brokers
Keller Williams Paint Creek