Uncategorized April 1, 2018

Tam O’ Shanter Real Estate Update

When it comes to buying or selling homes for sale in Tam O’ Shanter, making sure you are armed with accurate information is the best way to have a successful experience, regardless of what side of the transaction you are on. As a local Tam O’ Shanter realtor, I take great pride in utilizing the NWMLS’s stats. These monthly updates include the median and average sold prices for homes for sale in Tam O’ Shanter, how many days homes are sitting on the market, the current price per square foot and so much more. As a seller, you can use these numbers to get an idea of how long, on average, your home could sit on the market, what a good list price is as well as the current price per square foot. As a buyer, when you use this information, you can feel confident that you made a competitive offer as well as have a good idea of what you could spend on homes for sale in Tam O’ Shanter. In a market that has low inventory like my neighborhood, the more you know, the better chance you have at not only finding that dream property, but also having your offer accepted. So how are we doing in the neighborhood? Let’s take a look!

The good news for buyers is that the average sold price is up 13.2% at $894,260 while the median is up 23.5% at $840,000. The average price per square foot is up 20.3% at $426. The average percentage of list price is up now at 105%. This number is used to indicate your negotiation power and currently, Tam O’ Shanter homes are not only getting full price, but over on average. The good news for buyers is that new listings are up 11.9% while homes for sale are up 23.5%. Pending sales are up 9.1% and closed sales are up 3.4%. The month supply is still low, at 1.1. A balanced Tam O’ Shanter market needs a 6 month supply. The average days on market is 19 while the median is 7. As a seller, Tam O’ Shanter real estate is moving quickly so prepare accordingly. As a buyer, you don’t have time to think about it. If a home in this area comes available, act quickly. If you are looking to buy in this area, aligning yourself with a qualified Tam O’ Shanter realtor is a fabulous way of not only finding the home for you in this neighborhood, but also getting your offer accepted! For more information on real estate in Tam O’ Shanter, give me a call. I would be happy to help!