If you are a potential home seller, there is one detail that is at the center of your focus before, and during the property sale process. What is your property value and how does that translate to the selling price? No matter the details behind your home sale, it’s what price you can get for your property that weighs heavily on the details of your next home.

“More than 11% of homes sold had a sales price over $500,000, and sales growth was highest among homes in above-median-priced categories,” according to the National Association of Realtors. And homes here in the Northeast region that are riding near that upper edge, meaning their selling potential is higher.

House Prices are Rising

It’s no shock that now that the housing market has stabilized that there has been a track-able increase in higher-priced home sales, people are buying what’s up for sale, what is surprising is that home sales for properties that are lower-priced are decreasing. From the same NAR source:

• Roughly a fifth of homes sold for less than $100,000 a year ago and that share shrank in April 2014 to 17.5 percent.
• One year ago, homes sold at $500,000 or more were 10.8 percent of the market; they now comprise 11.6 percent of recently sold homes.

It is assessed that these trends will not continue, but they should round out the year, at the least. The sales of higher-end properties will continue to outpace those of the bottom-tiered homes.

Benefits to Home Sellers

Home sellers, the time is now to take advantage of this potential to get the best price for you home. In order to hit that higher-end status and increase your sales potential, it’s best to speak to a local realtor and get your home assessed. There are several budget-friendly property-enhancement options that can be done before you list your property, to increase the curb-appeal as well as the potential sales price.

Check back for our next blog to learn some great tips to increase your property value before you list so you can take advantage of the market’s waning love-affair with higher-end homes.

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