Real Estate and How Pricing Effects the Outcome

The month of January in the Glenside area and typically everywhere, is a slow time for the Real Estate Market. The year of 2018 is off to a decent start for Glenside and surrounding towns. For the first 21 days there are eighteen new listings on the market. This includes Oreland with five listings, Roslyn with two, Wyncote with four and Glenside with seven listings. Currently, there is a strong buyer demand, which means there are more buyers then homes for sale. This will most likely help these homes sell quickly. Of course there are always exceptions to this matter. The one main reason why a home doesn’t sell is that it’s over priced. Statistics tell us that over priced homes will sit on the market, and the longer they sit, the more difficult it becomes for that listing to sell. In the long run, the seller often ends up selling for less then the actual market value. As an example, here in the Glenside area, a home recently settled that was on the market since the summer of 2016. The home sold this month for $90,000 less then their original asking price. The home was in great condition inside and out, but when the location, square footage and the acreage are taken into consideration, their listing price was well above the market’s median sale price. If the home originally was priced correctly with market value, they most likely would have sold quicker and according to the Trend/Bright MLS Reports, they would have settled for close to $10,000 more then they actually received.