This Month in Real Estate February 2014 has been released!

Home sales activity remained at a pace of 4.9 million, as we saw in This Month in Real Estate January 2014.

The median home price rose slightly from $196,000 to $198,000. This is up 1.3% from last month, and up 9.9% from the same period of 2013.

The average interest rate dropped slightly to 4.39%, after a high of 4.48% last month.

The Top Story talks about how you can sell your home faster than others — by pricing your home correctly.

Jay Papasan says that research shows that almost half of sellers that price their homes according to their real estate agent’s interpretation of its’ market value sold almost twice as fast and for more money than their competition.

He says that if you’re selling your house, the idea of pricing high to test the waters might sound appealing to you. He cautions though, that if your house is priced too high, you may be showcasing the house down the street, and what a “great deal” that one may be in comparison to yours.

Pricing it right from the start may help to ensure a faster sale and potentially more money for you in the long run.

For an idea of what price for which you may want to list your Towson home for sale, please contact me. I would love to be of assistance!