Mark is one of the best appraisers in the county:
The median sales price for a detached home in the county continues on a seasonal climb. According to our MLS (depicted on the chart below) the median detached home price in March was $934,500. While the median price is down 4.2% from last March when the median price was $975,000, it is up 3.9% from February’s median price of $899,000.
Limited inventory is helping push prices higher, however it is still critical for sellers to price their home right. Multiple sources and personal experience have shown that pricing a home realistically based on local market data will help it sell quickly in today’s market. The danger of overpricing a home is having extended days on market, buyers questioning what may be wrong with a home that has not sold. This likely will result in price cuts and a steeper discount than if the home was initially priced at market.
Data from our MLS on the chart below shows the trending increased number of detached housing pending sales over the past 30 days compared with the months supply of housing. It reflects a market with high liquidity, meaning sellers who priced their homes right can expect an offer within a few weeks, at or near their list price.
I would be grateful to help take care of your contacts who are seeking a real estate appraisal to establish a date of death value for estate tax purposes. The IRS has specific guidelines on establishing a fair market value for tax reporting purposes, so it is important to get it right the first time! Appraisals tailored to specific IRS guidelines are my specialty and I am ready to provide your referrals with the best service available, just pass along my contact information and I will do the rest.
Best Regards,
Mark Melikian
858-945-8996
RealEstateValuations@outlook.com
