Since the housing crash in 2008, more than a million homes nationwide were lost to foreclosure. Fortunately, in 2013, the U.S. Department of Housing and Urban Development has reported more encouraging numbers. Home sales are at 454,000, a significant jump from 2010’s 276,000. Listing prices are also up at $271,600, a 33% increase compared to two years ago. Houses are also staying on the market for a shorter time—just 4.1 months on average.
This positive trend holds true for the Keystone State as well, as the Pennsylvania Association of Realtors revealed in a recent report:
The Commonwealth’s real estate market continues bouncing back, according to a recent Pennsylvania Association of Realtors market analysis report. Closed sales were up 15 percent and new listings rose 12 percent in the third quarter of 2013 over the same quarter a year ago. The statistics are based on MLS data reported to PAR.
Median sale prices were up slightly with a 3 percent rise to $185,000 in the third quarter this year compared to the third quarter in 2012. Days on market continued to drop, down 14 percent to 80 days in the third quarter, compared to Q3 2012.
With the real estate market on the mend, it appears that now is just about the time to put your house up for sale. As a seller, your goal naturally is to try to profit from your sale. Many homeowners, however, choose to do renovations on their kitchen, living room, bathroom, or den to attract buyers willing to pay the higher price tag. You’d be surprised to know that something as simple as getting new front doors in West Chester, PA can improve your asking price.
According to Remodel Magazine, people who replace their doors prior to selling their homes get a 63%-135% return on their investment. Front doors, after all, are where you first meet a prospective buyer, so you definitely want yours to leave a good impression. Installing new doors is a quick way to boost curb appeal and catch the buyer’s eye. Home buyers will also appreciate the added security that new doors provide against burglaries. Additionally, energy-efficient doors like the ProVia line made by Homecraft can improve your home’s thermal insulation, translating to less heating and cooling costs.
Indeed, getting new doors in Newark, DE or West Chester, PA can pave the way for higher profits for home sellers. Plan for new and well-insulated doors when putting in the details for your home improvement projects.
From: State real estate market continues positive momentum, Just For Sale Listed, October 16, 2013