If you find that your home isn’t selling as quickly as you hoped, it’s normal to feel frustration and disappointment. Consider these factors as you review your time on the market.

Was It Priced for Today’s Market?

Setting the right price from the beginning is crucial. While it might be tempting to aim high, overpricing can significantly slow down the selling process if your home is priced higher than comparable homes. 

Was It Easy for Buyers to Tour?

Limiting the days and times potential buyers can tour your home is a major mistake. Although it can be inconvenient to accommodate showings, flexibility is essential. Restricting access means fewer buyers seeing your home. Do your best to be as flexible as possible.

Was It Set Up To Make the Best Impression on Buyers?

You never get a second chance to make a first impression. Remember, you don’t always need major upgrades. Tidying up, applying a fresh coat of paint, and clearing the clutter can significantly enhance your home’s appeal. 

Were You Willing to Negotiate?

While it’s natural to want top dollar, it’s important to be realistic about the offers you receive. Flexibility can ease the negotiation process. 

Bottom Line

If you are interested in a few pointers and an evaluation of your home, let’s talk.

MARKET REPORT & INTEREST RATES

As we creep into July I want to take a look back at the June 2024 market for 2024. The number of sales in San Angelo have slowed compared to last June but prices still remain high. Inventory grew throughout the month and we are now sitting at more homes for sale than at any point in the past few years. There were a total of 114 residential sales last month with an average selling price of over 292k.  The median selling price was 261k. The average price per foot was $155 and the days on market was 83. Below is a breakdown in the busiest price ranges for closings. 

Here are a few highlights: 

• 14 sales in June were brand new homes
• 13 of these sales were less than $100/sq ft
• 2 ONE bedroom homes sold in June
• 1 home closed for over a million dollars

On Tuesday, Jerome Powell said the inflation has cooled in April & May but there are no plans to reduce the Fed rate right now. The national pundits are thinking September is when we will see a 1/4 point drop. While this is going to be great for morale, we really need to see several drops before mortgage rates get the help they need right now. As I have said before, I do not think we are going back to the 2-3% rates of  2021 & 2022. The real estate market will pop when we see rates in the 5% ranges for all types of loans. This would give all types of buyers confidence to go ahead with purchasing a home. 

San Angelo has 454 active homes for sale as of 7/3/24. Here is a breakdown of price ranges as well as a link to check them out.

Under 100k
100 - 200k
200 - 300k
300 - 400k
400k+

Feel free to share this newsletter with anyone who may be interested! 

Looking for your next San Angelo home, go to Search San Angelo Homes for Sale.

Want to know what is going on in or around San Angelo? Check out my Key Events, I hope to see you there.

LaFreta White, Assoc. Broker | Realtor @ ERA Newlin & Co. | 325.656.6896 | lafreta@sanangeloera.com