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An Update on the Brunswick Real Estate Market

I’ve got a thorough market update for you today regarding the Brunswick real estate market.

Selling in Northeast Ohio? Click here for a free home value report
Buying in Northeast Ohio? Click here for full MLS access

We’ve got a comprehensive market update to share with you today. We’ll look at every detail of the Brunswick market, as well as how the market changes as you go up in price. 

Right now, the Brunswick market is in a seller’s market overall. The number of properties that have come on the market has increased from 66 to 90 in just one month. Pending properties have stayed pretty flat, and our inventory is at about 1.3 months. If no new listings came on the market, our inventory would be depleted in just over a month. The average days on market is shrinking too. We’ve dropped from 57 days to only 48. 

What does this mean if you’re thinking about buying and selling? For sellers, you need to make sure your home is priced at market value and presented well. Making the small improvements will lead to you getting a maximum price. 

We’re seeing a bit of a different market for condos. We’re still in a seller’s market with 1.7 months of inventory, but our pending inventory is at 2.1 months. This may be indicative of a bit of a slowdown. 

As you already know, real estate is hyperlocal and each segment of the market can have its own trends. Here’s a quick look at all of the price points we’ve been tracking and what kind of numbers each of them is seeing:

We looked at every market detail.

For homes priced under $150,000 we are in dire need of inventory. We have less than one month available. Based on the current pending properties, we have an average of fewer than 14 days on market. 

Homes in the $150,000 to $200,000 range have seen a big increase in inventory, going from 10 properties for sale to 21. There has been some strong buyer activity in this market, with just 0.8 months of pending inventory. These properties are sitting on the market a bit longer than they have been, but they are still selling for good prices.

For homes in the $200,000 to $250,000 range, we’re still seeing strong sale numbers. Homes in the $250,000 to $300,000 range aren’t seeing as much of an increase. In fact, we might see this price point slowly shift into a neutral market. 

For the luxury market above $300,000, this is a buyer’s market with a lot of inventory. Around nine months to be exact. However, we saw a ton of homes go under contract last month and our pending inventory was at just 1.8 months. This is a great price point for sellers that are still out there. Even though inventory is high, the best homes are still moving quickly.

If you have any questions for us about the Brunswick market or if you’re looking to buy or sell a home, give us a call or send us an email. We would love to hear from you soon.

How We Can Help You Find Success in the Real Estate Industry

Joining the BOLD team can bring you a new level of professional success. Here’s how our system works to allow our team members to reach their highest goals.

Thinking of making a career change? Contact us today

If you’re considering a career change, the BOLD team might be the perfect fit for you. 

Chris Moscarino, one of our agents, was once in the same position. When he was switching careers, he looked into many different industries. After meeting with us, though, he decided that real estate fit him the best and offered the most opportunity. Another factor in his decision was that because we are a real estate team, we already had a network of support that he could leverage to start his career. 

Overall, our vision was in line with his. We have structure, a training plan for new employees, and a growth model that other brokerages he interviewed with didn’t have, and he didn’t feel like he could achieve his ultimate success without these things. If some of these principles sound familiar, it’s because they’re the same ones outlined in the book “The Millionaire Real Estate Agent.”

In the five months Chris has been with us, he managed to follow the 100-day plan we formulated for him very tightly to hit all of his benchmarks and goals. Having this plan in place accelerated his path to becoming a successful agent. His initial training and mentorship were closely monitored, and in the 60 days since he’s been on his own, he’s been experiencing a pace and level of success that’s rare for first-year agents. 

Who you become is up to you.

Like everyone in our office, Chris is held accountable to his own goals and the activities that will achieve those goals. There are expectations of things he must do every month along with these goals. These expectations are put in place as a guideline to what he must achieve to be successful. Many agents experience a roller coaster ride of business when they start out because once they get a few sales under contract, they’re too busy to continue their lead generation. The standards we have in place allow for a consistent line of business. 

Moving forward, Chris feels like there are endless opportunities for him and the sky’s the limit as far as how much he can grow as an agent. We have an organizational chart to help our employees create opportunities, but as Chris knows, our philosophy is that it’s up to you to achieve those opportunities. Part of his responsibility in that regard is sitting down once a week to make sure he’s hitting the benchmarks we’ve outlined to help him achieve those opportunities. 

If this type of experience sounds like something you’d be interested in or you already work in the real estate field and think we might be a better fit for you, don’t hesitate to reach out to us. We’d be happy to sit down with you and discuss how we can take you to the next level.

How to Sell Your Home When You’re Looking to Buy Another

There are a few ways you can handle buying and selling a home at the same time.

Selling in Northeast Ohio? Click here for a free home value report
Buying in Northeast Ohio? Click here for full MLS access

How can you sell your current home while trying to buy another home in our market? What are your options?

The first question you should ask yourself is, should you buy a home first and then try to sell your former home?

If you’re in a financial position that allows you to buy before you sell, that’s more favorable because you won’t have to coordinate showings or keep your house clean. Closing dates are also easier to get in this scenario. 

If you’re not in a financial position to do this, you can always put in a contingent offer on the new home you want, but those offers don’t look as favorable to someone who doesn’t have to sell their home, especially in a multiple offer situation. If you have a house to sell, list it first and then start looking for other homes because if you get an offer on your current home, it makes your offer on the buyer side a lot stronger if that house goes under contract.

If you can afford to buy your next home before you sell your current home, by all means do it.

If you don’t find the home you want in your designated time frame, there are certain things you can do to remedy the situation. For example, one of the things we do for our clients is door knocking, where we go to certain neighborhoods and proactively find homes that match our client’s criteria. This way, we can secure a purchase on a home that’s not even on the market. This scenario also benefits sellers because it happens before any other buyers get a chance to look at the home and they won’t have to deal with any multiple offer situations. 

In the end, the best tip we can offer is to call us for a free consultation so we can go over your needs, what you’re looking for, and help you to have the least amount of stress and hassle throughout the process. Everyone’s personal situation is unique, so it’s important to develop a personalized plan for your situation. You wouldn’t get into a car and start driving without knowing the end destination. So, what we do is provide that end destination.  

If you have any questions or you’re thinking about buying or selling a house, please don’t hesitate to give us a call or send us an email so we can give you a free consultation. We look forward to hearing from you.