There's not much inventory on the market like your property. Because of this, I would suggest you list your property "As Is" and let the offers come in, then you can decide which one to pick from. This situation could work in your favor, as we can list your property in the price range from $500,000 - $550,000, attract multiple showings, and hopefully create a competitive bidding environment. The best way to find our sweet spot is to present it to serious buyers to gauge their offers. Once we launch on the market, we can assess our approach after one week to see if our pricing is on point, ensuring we maximize your returns.
To accelerate the sale, we must engage genuinely interested buyers. This can be accomplished by listing on the MLS, promoting through top local brokers' sites, and directly contacting their clients via email.
I recommend starting with this price. If we don't receive any viewings or favorable offers in the next few weeks, we can reevaluate our pricing strategy.
Provided below is the expected price range for selling your property.
Naturally, this is merely a ballpark figure and may fluctuate higher or lower, depending on any refurbishing or enhancements you've made to make the property market-ready.
Below is a summary of the ARV comps that I was able to find
Based on recent home sales and current real estate market trends, here are the comparable properties (comps) for 160 Lake Plymouth Blvd, Plymouth, CT 06782:
### Recent Comparable Sales:
1. **24 West Park, Plymouth, CT**
- **Sold for**: $325,000 on February 10, 2025
- **Details**: 3 beds, 2 baths, 1,824 sqft
2. **47 Hosier Rd, Plymouth, CT 06782**
- **Sold for**: $220,000 on February 21, 2025
- **Details**: 3 beds, 1 bath, 954 sqft
3. **41 Fall Mountain Lake Rd, Terryville, CT 06786**
- **Sold for**: $307,000 on February 14, 2025
- **Details**: 3 beds, 1 bath, 1,360 sqft
4. **27 Lake Forest, Plymouth, CT**
- **Sold for**: $320,000 on January 22, 2025
- **Details**: 4 beds, 2 baths, 1,300 sqft
5. **19 E Hill, Plymouth, CT**
- **Sold for**: $315,000 on January 31, 2025
- **Details**: 3 beds, 2 baths, 1,658 sqft
### Real Estate Market Trends for Plymouth, CT (2025):
- **Average Home Value**: $305,498 (up 7.3% over the past year)
- **Median Listing Home Price**: $279,900 in January 2025 (down 3.4% year-over-year)
- **Median Sale Price in 06782 Zip Code**: $433,000 in January 2025 (up 65.1% compared to last year)
- **Market Competitiveness**: Very competitive, with many homes receiving multiple offers and selling for about 2-3% above list price.
- **Average Days on Market**: 34-40 days (faster than last year's average of 48 days)
- **Sales Volume**: 6 homes sold in January 2025 in the 06782 zip code (down from 11 last year)
- **Inventory Trends**: Expected improvement in 2025, potentially attracting more buyers.
### Analysis:
The subject property at 160 Lake Plymouth Blvd is currently listed for $550,000, which is significantly higher than the recent sales of comparable properties. However, it's worth noting that the subject property has been extensively renovated and offers unique features such as waterfront access and smart home capabilities, which can justify a higher price.
### Estimated ARV (After Repair Value):
Based on the recent sales and considering the unique features and renovations of the subject property, a reasonable estimate for the ARV would be in the range of $425,000 to $475,000. This takes into account the higher end of the market and the premium features of the property.
Best,
Ari Lee