Hey there, young homeowners and potential sellers! If you’re curious about the real estate market, especially for high-value homes priced between $900,000 and $1,000,000, you’ve come to the right spot. Let’s dive into the world of home selling and uncover some useful facts that can help you if you’re thinking of selling a home in this price range. Ready? Let’s break down the numbers and see what they mean for you!

The Current Market for High-Value Homes

Over the last six months, there have been 2 homes sold in the price range of $900,000 to $1,000,000. This gives us a peek into the activity level for higher-priced homes in Yakima. But what does this really tell us? Let’s find out!

Average Days on Market (DOM)

The “Days on Market” or DOM is how long a home stays listed before it’s sold. For our high-value homes, the average DOM was 60 days. This means on average, it took two months to sell a home in this price range. Interestingly, one of the homes took longer than this average to sell, showing that patience is key when dealing with homes of this value.

Price Per Square Foot (PPSQFT)

Understanding the price per square foot can give us insight into the value of a home. For the homes sold, the price per square foot ranged from $162.14 to $190.09. This range tells us about the quality and features of the homes sold, indicating that higher prices per square foot could mean more luxury or better locations.

Selling Prices

The average and median selling prices were both $990,000, which tells us that the homes sold were very close in price. This consistency can be helpful in setting expectations if you’re selling a home in this range.

Tips for Selling Your High-Value Home

Selling a high-value home can be different from selling a more moderately priced home. Here are some tips to consider:

• Prepare for a Longer Sale Process: With an average DOM of 60 days, be prepared for it to take a couple of months to find the right buyer.
• Price Your Home Competitively: Use the average sale price and PPSQFT as benchmarks to competitively price your home.
• Highlight Unique Features: Luxurious or unique features of your home can attract buyers. Make sure these are well-represented in your listing.

Understanding the specific market for high-value homes can greatly improve your selling experience. By using this data and following our tips, you’ll be in a better position to sell your home effectively. Good luck!