Get Ready: The Best Time To List Your House Is Almost Here

If you’re thinking about selling this spring, it’s time to get moving – the best week to list your house is fast approaching.

Experts at realtor.com looked at seasonal trends from recent years (excluding 2020 as an uncharacteristic year due to the onset of the pandemic) and determined the ideal week to list a house this year:

“Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2023 is approaching quickly. The week of April 16-22 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.”

If you’ve been waiting for the best time to sell, this is your chance. But remember, before you put your house on the market, you’ve got to get it ready. And if you haven’t started that process yet, you’ll need to move quickly. Here’s what you should keep in mind.

Work with an Agent To Determine Which Updates To Make

Start by prioritizing which updates you’ll make. In February, realtor.com asked more than 1,200 recent or potential home sellers what updates they ended up making to their house before listing it (see graph below):

As you can see, the most common answers included landscaping and painting. Work with a trusted real estate agent to determine what projects make the most sense for your goals and local market.

If Possible, Plan To Have Your House Staged

Once you’ve made any necessary repairs and updates to your house, consider having it staged. According to the National Association of Realtors (NAR), 82% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home. Additionally, almost half of buyers’ agents said home staging had an effect on most buyers’ view of the home in general. Homes that are staged typically sell faster and for a higher price because they help potential buyers more easily picture their new life in the house.

Bottom Line

Are you ready to sell this spring? Contact a real estate agent to plan your next steps. You can start by making a checklist of what you think your house needs to get ready. Then, we can work together to prioritize your list and move forward together.

How Homeownership Is Life Changing for Many Women

Throughout Women’s History Month, we reflect on the impact women have in our lives, and that includes impact on the housing market. In fact, since at least 1981, single women have bought more homes than single men each year, and they make up 17% of all households.

Why Is Homeownership So Important to Women?

The rise in women pursuing homeownership hasn’t just made an impact on the housing market. It’s also been an asset for those buyers and their households. That’s because homeownership has many benefits, both financial and personal.

On the financial side, housing proves to be the key to building wealth for single women. Ksenia Potapov, Economist at First American, says:

“For single women, housing has always made up a large share of total assets. Over the last 30 years, the average single woman’s wealth has increased 88% on an inflation-adjusted basis, from just over $142,000 in 1989 to $267,000 in 2019, and housing has remained the single largest component of their wealth.”

The financial security and independence homeownership provides can be life changing, too. And when you factor in the personal motivations behind buying a home, that impact becomes even clearer.

A recent report from the National Association of Realtors (NAR) shares the top reasons single women are buying a home right now (see chart below):

Bottom Line

Homeownership can be life changing no matter who you are. Work with a local real estate agent today to talk about your goals in the real estate market.

Today’s homeowners are sitting on significant equity, even as home price appreciation has eased recently. If you’re a homeowner, your net worth got a boost over the past few years thanks to rising home prices. Here’s what it means for you, even as the market moderates.

How Equity Has Grown in Recent Years 

Because of the imbalance between how many homes were for sale and the number of homebuyers in the market over the past few years, home prices appreciated substantially.

And while price appreciation has slowed this year, that doesn’t mean you’ve lost all the equity in your home. In fact, the latest Homeowner Equity Insights report from CoreLogic finds the average homeowner’s equity has grown by $34,300 over the past year alone.

And if you’ve been in your home longer than that, chances are you have even more equity than you realize.

While that’s the national number, if you want to know what happened in your area, look at the map below from the Federal Housing Finance Agency (FHFA). It shows on average how much home prices have risen over the past five years, which has been a major driver behind equity growth.

Why This Is So Important Right Now 

While equity helps increase your overall net worth, it can also help you achieve other goals, like buying your next home. When you sell your current house, the equity you’ve built up comes back to you in the sale, and it may be just what you need to cover a large portion – if not all – of the down payment on your next home.

So, if you’ve been holding off on selling, it may be time to find out how much equity you have and how it can help fuel your next move.

Bottom Line

Homeownership is a long game, and if you’re planning to make a move, the equity you’ve gained over time can make a big impact. To find out just how much equity you have in your current home and how you can use it to fuel your next purchase, connect with a local real estate professional.

Southern Oregon Market Stats

Dec. 1st, - Feb. 28th 2023

By Jake Rockwell

The pendulum has started to swing. When we look at the numbers it looks surprising at first glance, with number of homes sold dropping from 627 to just 286, it hard to not feel alarmed. However, remembering that this time last year was such a momentous time where typical market conditions that effect the winter month, just didn't seem to take hold at all. As the market shifts back down to normalcy, its important to remember not to necessarily look at just a year over year comparison but that last year was an anomaly in of itself. Apart from 2022, looking at the numbers in 2019 the number of homes sold was 487 during the same time frame. However the sales price has changed since then going from $278,250 to $391,250. 

When you compare this year to last on the median sales price it has gone down from $408,250 to $391,250, and overall most areas throughout Jackson County have started to trickle down on pricing. This is of course, due to the fed hiking interest rates in an effort to combat inflation. It seems to be working as pricing is coming down a bit and might me a sweet spot coming up for buyers where the interest rates may also come back down on a home that the prices have already fallen on. 

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Southern Oregon Market Stats

Nov. 1, 2022- Jan. 31, 2023

By Jake Rockwell

Looking at the numbers from last year, total sales are down and inventory is up. However, that's to be expected not only after such a large downturn in the market due to interest rates spiking but also during the winter months. November through Feb is traditionally much slower anyhow. The 5 year home values are all still up nearly 50% but despite the rapid surge in prices we felt last year, median home values are starting to come back down. Going from $389,500 in 2022 to $381,000, which isn't a lot but shows that the time might be good for buyers to get into the market. 

This is true from a realtor perspective as we are seeing buyers that are in the market, be much more prepared and ready to buy this is also good for sellers. This means far less showings that don't amount to an offer. Buyers are ready to buy and are serious when considering a property and are often pre-qualified and know what specifically they want in a home and what is a deal breaker for them. 

Southwest Medford and Eagle Point are looking like the two key areas that might be best to look at for buying. Eagle Point is showing a median change from $415k to $340, while Southwest Medford is at $350k compared to last years $392k. That's huge savings for anyone looking to buy right now. 

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