The El Paso real estate market right now is probably a B- if you were grading it. Homes are taking longer to sell than they were this time last year and for a little lower in price. There are approx. 3900 homes on the market but the list price to sales price ratio is still about 97%, if you price them correctly in the first place.
Gone are the days, but they will be back, when you can just pick a price above the market range and know that it will sell in a matter of days and that it would still appraise. The buyers are able to have numerous homes to choose from so the one you are selling must be in top condition and not above the market range.
We listed a home the other day on the NE side of the city and it sold in less than a week at full price with out any concessions and I think the reason that it did was that the seller, once given a range that the home could sell in, did not automatically go for the highest range in the market. They agreed to list in the middle of the range and I truly believe that it the reason it sold so fast. The home showed very well and they also agreed to give a home warranty to the buyer at closing. I think in today's El Paso real estate anything that a Seller can do to put their home out in front will be great.
Active Rain Real Estate Network
You can find great local El Paso, Texas real estate information on Localism.com Patti Olivas is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.
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