You just put your home on the market and feel it’s priced competitively. Or maybe you just reduced your price to increase buyer interest. Then it happens – a buyer makes an offer to buy your home. That’s great, but the offer is significantly lower than you expected. How do you respond? Selling a home can be highly emotional. However, if left unchecked, emotions could cost you thousands of dollars. What do you do when an offer is lower than you hoped? First, keep in mind the buyer has probably seen every home on the market in your price range. They could have made an offer on any one of those homes. They chose yours and, despite the difference in price, it’s still a wonderful thing. Second, always make a counter offer. Often these offers, through negotiations, result in a price both you and the buyer can live with. By categorically rejecting an offer, you will never know what could have happened. The objective is to keep your emotions in check and the lines of communication open until you reach your goal of a successful sale. With that, here are the homes that sold in the Rivertowns in February.
February 2019 YTD vs. February 2018 YTD - Single Family Homes
The number of homes coming on the market decreased 17.1% (29 YTD 2019 vs. 35 YTD 2018). The number of sales increased 33.3% (20 YTD 2019 vs. 9 YTD 2018). The average sales price decreased 34.5% to $748,650. The median sales price decreased 23.6% to $477,500. Overall, the average sales price in Rockland County (inclusive of the rivertowns) was $489,635, up 1% over the same period last year. The median sales price in Rockland (inclusive of the rivertowns) was $445,000, up 5.0% over the same period last year.
February 2019 YTD vs. February 2018 YTD - Condos/Co-ops
The number of condos coming on the market increased 50% (15 YTD 2019 vs. 10 in 2018). The number of sales decreased 25% (6 YTD 2019 vs. 8 YTD 2018). The average sales price increased 40.1% to $422,750. The median sales price increased 50.8% to $442,750. Overall, the average sales price for condos/co-ops in Rockland County (inclusive of the rivertowns) was $234,237, down 3.5% over last year. The median sales price for condos/co-ops in Rockland (inclusive of the rivertowns) was $212,500 down 3.4% over the last year.
For questions, comments or to find out what’s happening in your neighborhood, you are welcome to call Donna Cox on 845-641-8613.