Bluffs Neighborhood: 2022 Recap & 2023 Expectations
Bluffs Neighborhood 2022 Recap & 2023 Expectations
Here is a synopsis of what the real estate did in 2022 in the Bluffs community. Plus how 2022 sales are going to affect the value of your home in 2023.
You may have a pretty good idea of what your home is worth, but as we head into 2023, there are steps that you can personally take to improve the ability to capture top dollar for your real estate. If you're thinking of selling, the features of a home features are going to have a very significant impact on price, especially in today's market. Having a realtor who understands what's most important to the buyer in the present market is paramount in achieving your goals as a seller and getting across the finish line to the closing table. One of the significant changes that we are going see in 2023 is “Days on Market”.
This is because of inflation, interest rates, and uncertainty. Buyers are going be more picky than ever when it comes to purchasing a new home. Last year in the Bluffs, the average days on market was eight days. The most time a single home stayed on the market in the bluffs was 33 days before it went under contract.
We are going to see more days on market for properties that come to market in 2023 because of those interest rates, inflation and buyers being more selective. Here are some stats for 2022. We had eight sales last year in the Bluffs. There were two town homes that sold, one that was a two bedroom and two bath. It was listed at 460,000 and closed at 454,000. The other one was a three bedroom and three bath. It was 579,000 listed and closed at 616,000, $37,000 over list price. As for single family homes, six sold. 157 Bluffs that was on the cliff was listed for 699,000. It's sold at 707,000. The most expensive sale in the Bluffs was listed at 939,500 and it closed at 950,000.
2022 was a year where buyers didn't want to get beat out from other offers and the interest rates were low enough at that point where they could go ahead and put that little bit of extra into their offer to get that offer accepted. As a result, six of the eight sales in the Bluffs last year, closed over list.
That is not going to be the case this year. 2023 will be the year when you need a realtor who's going to be able to negotiate on your behalf and who's going to be able to give you the tools and the ideas to set your home up for success prior to even listing the property. The way to get the job done is using innovative strategies and data used by the best in the businesses to fuel the growth and confidently steer buyers away from obstacles that could possibly blow a deal up or put less money in your pocket.
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