The Warren Group, which collects data on the New England housing market, recently reported that Connecticut demonstrated a jump in sales growth and pricing for September – the best September since 2007. That momentum has given many realtors we’ve spoken with a brisk start to the fourth quarter and hope for the future.
PJ Louis, sales manager of the William Raveis office in Avon, expects 2014 to be better than 2013 as the economy and new construction numbers improve.
According to NARS Chief Economist Lawrence Yun’s Housing Marketing and Economic Outlook, in 2014 home pricing could either slow or accelerate – the housing starts will be the deciding factor. He adds that the industry needs to reach 1.5 million starts soon or face a persistent shortage that will impact pricing and affordability.
Staging Gives Sellers a Market Advantage in 2013
This year’s inventory shortages provided sellers with a market advantage in many areas and those sellers who staged their homes were able to leverage that advantage further and capture buyers. The year got off to a busy start and from January on PJ & Company worked on over 25 homes, with many selling in record time after staging.
Statistics released throughout the year also continued to support the benefits of staging. New figures from the Real Estate Staging Association and Staged Homes reinforced that if you want to sell, stage it first.
As the market evolves in 2014, we asked realtors why staging a home for sale will continue to be important in today’s real estate market.
“A home that is staged or as I like to say, “romanced”, stands out from the competition. There are many benefits to staging a home for sale besides exciting the agents in the community to show and sell. A staged house is memorable, a staged house is often “move-in” ready and perceived as a great value.”
– Joel Grossman, Calcagni, Wallingford
– Lorraine Amaral, William Pitt Sotheby’s International Realty, Danbury “Today’s buyers demand clean, fresh, organized homes to become excited in their purchase process. Sellers who fall into distressed, tired home syndrome will be rejected by buyers unless very low priced. A home is either really exciting or boring! Anyone can list a home, not all can get it SOLD! A staged home is exciting!- Ruth Ratner, CT Properties/Keller Williams, Cheshire
Hopeful for 2014
As we look ahead to 2014,the biggest hope for many is that the housing market will continue to recover to stable levels analysts will define as healthy. Ruth Ratner of CT Properties/Keller Williams shares with many in the industry hope for continued increases in listings and sales that will drive the market and allow buyers to find affordable, move-in ready homes.