Best US Housing Markets for Buyers and Sellers

"Much of that strength is driven by investor interest, as many distressed and non-distressed homes are purchased and transformed into rentals," says Stan Humphries, Zillow's chief economist, in the report. "This investor activity is contributing to very low inventory levels, which increases demand and helps drive up prices, particularly for less expensive homes in these markets."

(Read More: Housing's Recovery Means Fewer Can Afford Home)

The best buyers' markets are equally surprising, with Chicago, Cleveland and Philadelphia topping the list.

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[Buyers Sellers Closer] 3Q 2012 Palm Beach Report

Posted by Jonathan Miller - Saturday, October 20, 2012, 2:00 PM

We published our inaugural report on the Palm Beach, Florida sales market for 3Q 2012.   This is part of an evolving market report series I’ve been writing for Douglas Elliman since 1994.

Key Points

-Condo sales reached their second highest level in more than six years.
-Buyers and sellers moved closer together on price and the market appears to be absorbing more of the older listing inventory.
-Single family homes selling 2 months faster than a year ago.

Here’s an excerpt from the report:

CONDO/TOWNHOUSE The number of sales jumped 45.5% to 64 units in the third quarter, from the prior year quarter. The year-to-date number of sales is at its second highest level in more than six years. Median sales price increased 3.3% to $390,000 from the prior year quarter, while average sales price and average price per square foot increased 6.5% and 27.7% respectively…

SINGLE FAMILY Median sales price increased 5.7% to $2,600,000 from the prior year quarter. Average sales price and average price per square foot dropped 16.4% and 15.1% over the same period. Arguably a small submarket that could be characterized as stable, the number of sales fell to 23 from 25 in the prior year quarter…

You can build your own custom data tables on the market – will be updated with 3Q 12 data shortly NOW UPDATED FOR 3Q12. We’ll be adding a chart library for this market area soon!

The Elliman Report: 3Q 2012 Palm Beach [Miller Samuel]
The Elliman Report: 3Q 2012 Palm Beach [Douglas Elliman]
Aggregated Custom Market Data Tables [Miller Samuel]

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[Three Cents Worth DC #194] DC’s Housing Market Turns The Tide; Good News For Sellers

Posted by Jonathan Miller - Monday, June 11, 2012, 11:01 AM

It’s time to share my Three Cents Worth (3CW) on Curbed DC, at the intersection of neighborhood and real estate in the nation’s capitol. And I’m simply here to take measurements.

Read today’s 3CW post on @CurbedDC:

Here’s my chart version of the May 2012 report published by RBI/MRIS. They’ve got terrific data and when Curbed DC asked me to go old school and bring back the charts so the trends would be easier to understand, I gladly obliged. I called up my inner Three Cents Worth days in DC…

[click to expand]

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Open Houses for FSBO Sellers in This Market

When selling a home "for sale by owner" it is important to get the word out among the potential group of buyers for the property. A simple open house can spread the word among buyers.

They are one of the most effective was to sell a home in the real estate market no matter what part of the country the home is in. They are greatly used by real estate agents to generate interest in a home and to gain new clients. Should people selling their own home, or FSBO (for sale by owner) also utilize them to generate interest? The answer is a definite YES! One of the most effective ways to sell a home on the market is through an open house.

Location, Location, Location

The old clich? location, location, location applies greatly in real estate because this is the one of the strongest aspects for the buyer. The address does matter and accounts for convenience, property value and appreciation values as well as open houses.

For sale buy owner properties need to be in a location where they work. The city is a great area for them as well as suburbs and towns where there are many interested potential buyers. With the following circumstances existing, they are usually successful:

1. The population base is good

2. The home for sale at the open house is convenient to potential buyers and can easily be seen

3. The market consists of more buyers than seller

4. Properties in the area sell rather quickly

In areas that are slow as well as rural areas open houses are not as successful and often times tend to fail. For a homeowner selling their home "for sale by owner" this can be disillusioning when their open house generates a low turnout. If you happen to be a home seller in one of these areas, you are likely better off listing your home on the Internet.

Although an open house is one of the greatest tools a "for sale by owner" has, the home must be situated in a location that is easily accessed. Are you one of the sellers that will benefit from an open house? If so, then this is definitely a channel that you should take advantage of. If not, do consider the Internet as your property will be viewed by thousands to millions of potential home buyers.

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