Do you know the average sales price in Gig Harbor? For 2013, the average home price in Gig Harbor is $403,386. For this post, I’m not as concerned about the average price as to the ratio of original list price to sold price.
What is that and why does it matter? The ratio of OLP (original list price) to sold price is a number that really only concerns one person…the home seller. For the home buyer, and anyone simply curious about Gig Harbor home prices, all that really matters is the average sales price. For the seller, however, the OLP to Sold Price ratio is of huge importance.
Without getting in to all of the factors around this ratio, such as extra days on the market, holding costs and maintenance costs for that time, etc, let’s just look at the bare bones numbers. If you are selling your home in Gig Harbor, please pay attention to this, as it is of extreme importance when you choose a Realtor to help you sell your home.
Some agents “buy listings,” that is they’ll list at whatever price the seller wants so that they’ll get the listing, even if they know it won’t sell at that price. Some agents don’t know the market very well and are pricing homes based on limited knowledge. In both cases, the home seller gets hurt.
According to the NWMLS, the average OLP to SP ratio in Gig Harbor is 94.4%. My ratio is 96.7%. While 2.3% may not seem significant, what does that mean in real dollars? At the average sales price for Gig Harbor, that means I get my sellers on average $9277 more than other agents. 2.3% seems a bit more significant now, right?
When it comes time for you to sell your house in Gig Harbor and you are choosing the best Realtor to represent you in that sale, keep these numbers in mind. The average sales price in Gig Harbor is important, and so is the Original List Price to Sales Price ratio. Don’t get fooled into hiring an agent who will list your home at a price where it won’t sell. My higher OLP to SP ratio means my Days on Market is lower, too. Not only am I putting $9277 more in your pocket, less is going out of your pocket in carrying costs, too.
I’d love a chance to be the Realtor to sell your Gig Harbor home. There’s more to it than just average sales price!