A property can do well within an oversupplied segment ofthe market if it has unique characteristics that set it apart from all or most otheravailable options.

Despite an apparent returning balance in the local real estate market, there are still many segments of the market that are oversupplied....

• 45 months of supply of houses priced over $400K
• 57 months of supply of building lots (less than 1 acre)
  
• 66 months of supply of land (more than 1 acre) 

However.....there are still some houses and building lots that can (and do) sell much more quickly than those against which they are competing.  How can this be?  Why does it happen?

• Sometimes a property can outperform its segment of the market because of price.  If comparable homes are selling for $450K, but there are a LOT of them on the market, pricing a similar home for $425K or $410K will likely allow you to trump the oversupply in that price range.
   
  
• Sometimes it's all about the marketing -- does your house have high quality photographs?  Floor plans?  Color brochures?  Thorough exposure on the internet?  Surprise, surprise, not all homes are well marketed these days --- if we create a solid marketing plan for your house, it may be able to outperform the market, and sell more quickly than the market would otherwise suggest.
   
  
• Sometimes the condition of a property can allow it to outshine the other competing homes --- and make it much more attractive to many more buyers.

Price, condition and marketing are all under your control.  Here's another factor that is not under your control, but it is important to determine whether your property fits into this category.  Sometimes a property can do well within an oversupplied segment ofthe market if it has unique characteristics that set it apart from all or most otheravailable options.  Those "unique characteristics" might be that the house (or building lot) has amazing views --- above and beyond any of the competing properties.  Or perhaps it's the architectural style of your home.  Or the undeveloped common area behind your property.  Whatever those peripheral factors are, it is important to recognize that they can help elevate your property above others as you compete in an oversupplied market.