The month of May shaped up to be very similar to last year with a couple of exceptions. We had slightly fewer homes sell, but the average sale price increased by 7%. The sale price over list price percentage remained the same at 13% and is still only taking about two weeks to sell.
A growing trend is selling a home "Off-MLS" which means not sold on the open market where everyone can see it. Because the house is not exposed to the greater market on the Multiple Listing Service (MLS), the vast majority of buyers don't even know the house is for sale.
In many cases the house doesn't sell due to lack of exposure and if it does, who knows if it is sold for top dollar because essentially it was a secret sale. In order to get the top dollar, it pays to get the most exposure by listing the house for sale on the MLS.
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