Resale home inventory is low, with 7,966 properties currently listed for sale in San Diego County, almost half the number of properties compared to a year ago. These statistics suggest that we are currently in a seller’s market and should see prices rise due to low supply. Surprisingly, while we’ve seen this drop in inventory, prices have also declined. The median home sale price in December was $311,000, down more than 6% from last year. In response, our sellers are using technology more than ever to gain leverage in this unusual housing market.
23% of all gifts purchased this holiday season were related to mobile technology. Smart phones, tablets, and electronic books flew off the shelves. Experts predict that within the next year, half of all online searches will be on mobile devices. While this shift may not interest you at a personal level, if you plan to sell your home, your real estate agent needs to know how to get your property in front of these consumers.
Two main groups of home buyers use this technology. The first group is “early adopters,” people who have to be first among their peers to use new technology. They live in the mobile app world, are mostly affluent and are very qualified home buyers.
The second group, “forced users,” would normally shy away from new technology, but these home buyers will use whatever means necessary to find a home. Forced users have tried traditional methods and have lost properties because they are not accessing market information fast enough. By losing out on properties, they are sufficiently motivated to use unfamiliar technology to make sure they find new homes as soon as they hit the market. Forced users are strongly motivated and willing to pay top dollar for their new home.
More than ever, a qualified, experienced REALTOR is your best bet. From mobile apps, like SIR Mobile, to virtual tours, our REALTORS know how to market your home.