Shadow Hills

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...but what does that mean to you?

as we transition into Autumn, we come off over two years of a Seller's Market without precedent 

Shadow Hills is a prime example of what can result when there's a convergence of

high demand,

increasing buyer power from oft-desperate buyers with record-low interest rates,

and low inventory from which to choose.

Now more than ever, though, it's crucial that homeowners have

an accurate gauge on what's happening in their neighborhood,

...which is why I'm proud to provide this as a resource not only to my neighbors here in Shadow Hills,

but to those who'd love to make their home here too.

It's been an unprecedented run for Sellers

in Shadow Hills recently;

Sales prices have climbed to new heights,

and demand from Buyers is still strong

TWO Homes listed ACTIVE 

ONE under contract

The unprecedented shortage of available homes has pertained through the year--

For the overwhelming majority of the last 3 Years --

there have been two or less Active listings at any one time, out of a neighborhood of approx 575 existing homes,

That's truly remarkable.  Shadow Hills experienced more days in 2021 and 022 when there have been ZERO active listings on market, than we've had days where there've been ANY.

That's almost three years running when buyers--many of whom are focused on Shadow Hills as a priority-- have had almost nothing to offer on, and when they do, very little time to decide.

And this in a period of unprecedented demand, with well-qualified (and some "cash-heavy") buyers from everywhere, hoping to find a home in the Foothills, and Shadow Hills in particular.

What's the result? For the majority of those years, it was that

Multiple buyers were making strong, competing offers in the first days on market.

For example:

Of the Seven sellers that I've represented in Shadow Hills over the past two years, ALL of them received multiple offers on their first weekend on market, with ALL closing significantly above their original list price. 

While that kind of result seemed almost "normal" in 2021 and 2022, there's been a shift, of late, where more and more foothills properties are sitting on market, and in many cases dropping price, before finding a buyer.   

This change is inventory-driven, as rising mortgage interest rates and economic uncertainty over the Summer have combined to take some (but not all!) energy out of previously-manic buyers.  

Overall, though, with so few great homes to choose from, there are still Buyers out there who will be eager to offer on well-presented properties in a neighborhood like ours... and still opportunities for Sellers to realize great value when the time is right. 

For Buyers interested in Shadow Hills,

the best way to even have a chance at getting a home when they come available

is to have an agent working to show listings as soon as, but ideally even before, they go live to the public.

To get started, contact me.

The competition is just too strong to leave it to chance.

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and more by building a profile here 

Recent Closed Sales are your best starting point for understanding the potential value

the market will bring for your home.

15 properties sold on MLS in 2022

$948,003 : Average sale price

$950,000 : Median sale price

Notably, on average, homes have sold for OVER their list price (107.5%)

To see a map of Closed listings in Shadow Hills, click here.

Though this is a Seller's Market--and this point cannot be over-emphasized--it's not as simple as just taking some photos and "putting the sign out." 

There's an art to maximizing value and minimizing time on market.

Notably, though, of the 55 homes that sold in Shadow Hills since the start of 2022, 14 of them sold for less than their original list price (some significantly less), and the one property under contract at time of this writing having dropped price before going under contract ... acheiving your best possible return is more Art than Science, and never just a matter of putting a sign out and "hoping for the best".

Marketing your home to key buyers onto its best attributes, and pricing it to maximize its potential value in the market quickly are more art than science.  Price too high and you're likely to miss your chance at your best offer, too low and you'll be leaving money on the table.  You only get one chance to get it right.

If you're interested in learning more about what value buyers in today's market might bring for your home here in Shadow Hills, or have questions about what the process will look like for you and your family whenever you're getting ready to make a move, please feel free to contact me by text or voice on my mobile 520.965.5508, or by email any time at tomwood@longrealty.com