San Joaquin
About halfway through summer vacation and the real estate market is shocking people across the country. Interest rates have still not fallen as expected, and people are experiencing longer timelines for selling homes. These trends are affecting prospective home sellers in the Stockton market as well.
Current Stockton Market
If you are considering selling your home soon, you will be selling in a buyer’s market. In the Stockton real estate market, homes are selling slightly above listing price, averaging at 1.88% above. However, they are spending longer on the market, costing the seller. The average days on market in Stockton is 33 days, above the county average days on market.
Selling in Stockton California right now comes with a lot of competition. There are over 900 homes for sale in Stockton alone.When you look around your home right now, you may be concerned that you will not be able to compete in this market. Let alone that your home can sell fast enough to meet your necessary timeline.
Getting Ready To Compete
In this market, you will likely need to spend money to sell your home. This is more than just continuing to pay your mortgage while you wait to close on your sale. Before you hit the market, you need to get your home ready for its moment in the spotlight.
First thing to think about are renovations. Key in on things that could stop your sale such as needing a new roof or resolving water damage issues. Due to the buyer’s market, buyers have the ability to be more picky with the homes that they choose or things that they negotiate for during the closing process. The more problems you leave now, the more problems you may face down the road.
You will also want to do a general face lift to your home. A fresh coat of paint, deep clean, new hardware or fixtures, can all go a long to elevating the look of your home. Focus on the big impact spots in your home such as the kitchen and bathrooms. The same goes for any upgrades that you make to your home. Focus on the spots that people will spend the most time looking at or spots that make your home unique.
Don’t forget the outside of your house! You want to make sure you make a great first impression with your potential buyers. Clean up the landscaping and lay down fresh mulch. Clear out all the cobwebs and wasps’ nests, put a fresh coat on your door, and add some neutral decor.
If you are working with an agent, they may also suggest staging your home. This helps buyers to better envision the potential of the space. It can also help make sure you highlight those best parts of your home.
All of these components are to help get as many buyers eyes on and in your home as possible. You are competing for attention first, and then offers. And even when those offers come in, it’s making sure that despite all the contingencies, the offer goes through.
Other Options?
If you are in a place where you can’t afford to get your house ready to sell, or you simply don’t have the time, there are other options for you.
Cash buyers like Eric with ASDM Homes is here to help you with your home selling needs. We are ready to purchase homes for cash with no need for repairs, inspections, or extended waiting times. With the ability to close on your home in a week, we will help you get moving into your next chapter with as little hassle as possible. If a cash offer sounds right for you, leave us your address so we can get a cash offer to you!
*Data taken from Realtor.com on 7/10/24