I just took a quick look at the FMLS system for Hamilton Mill. Right now there’s 84 homes for sale in Hamilton Mill Golf Community. That’s a pretty good level of inventory — not too high and not too low. At times in the past, we’ve had 150+ homes on the market. That puts things way out of balance and drives price down while increasing the amount of time that it takes to sell your house.
There’s a couple of things that I noticed when I looked at this data.
#1. The prices for many properties are really low (the lowest is just $169k)
#2. Some of these homes have been on the market for a year or even 2 years.
#3. There’s an obvious division between the two.
So, here’s what I’m saying…
Homes come on the market at a good price and they sell in a reasonable amount of time (like 90 to 120 days). But, other homes come on the market at “old market prices” and they just sit on the market for months and then years.
What can we do…
The bottom line for Hamilton Mill homeowners is that selling a home today is going to take some pretty aggressive pricing — probably more aggressive than you think.
The good news is that homes are, in fact, selling.
By my count, 99 homes sold in Hamilton Mill during 2009.
We’re about to publish our Hamilton Mill Real Estate Annual Report for 2009. Just fill out the form here to receive your copy.
Of course, we’re happy to provide whatever custom data you might want and customize a report for homes that are directly comparable to your own home, etc.