Buyer demand hasn’t disappeared, it’s just moderated this year. If you’re ready to sell your house today, let’s connect so you have expert insights on how the market has shifted and how to plan accordingly for your sale.
I know many buyers are “waiting out the market” hoping to see a crash. I wouldn’t hold your breath. This isn’t a replica of 2008. There isn’t a bubble. It is simply high buyer demand and low inventory. Rates are still low, however experts are showing a steady tick up. If you wait, you could end up paying more than if you buy now.
Not all homes sell…here are some reasons why and some pointers on how to make sure your home does sell.
Because the real estate market is very dynamic, whether you are thinking about selling or buying, it’s more important than ever to work with an agent who understands the local market. Often, homes are sold where the seller may have netted a higher amount or there are buyers who lose out on a great home because their agent may not understand these market forces. Find an agent with knowledge and experience locally who can understand your unique needs.
A glance at 2020 Year End Housing Market for the Charlotte Region
Some analysts are talking about future foreclosures reaching 500,000 to over 1 million. With the options today’s homeowners have, that doesn’t seem likely.
I’ve mentioned this before, you most definitely want the most money for your home. But keep in mind the current market and what buyers are willing to pay for a similar home to yours right now. I might want my home to sell for $500,000. But current market conditions tell me otherwise. Homes near me that are most like my home are selling between $320,000 to $360,000. If I still choose to list my home at $500,000, buyers will overlook my home, leaving it on the market longer. This often creates a stigma about my listing, making buyers think something is wrong with the home.
If you’re thinking about listing your house this fall, let’s discuss how to price it right so you can maximize your exposure and your return.
Experts forecasting home prices to increase over the next 12 months. The average of the projections is a 3.8% increase. On a $300,000 home, this is an increase of $11,400 in just 12 months. This is why home ownership is a powerful investment. DM me for a free market analysis of your home to find out how much equity you have right now.
The housing market has come roaring back and looks as though it may even surpass last year’s success.
If you’ve been considering making a move – whether that’s to get into a bigger home or to downsize to a smaller one – it’s a great time to reach out to a real estate professional to learn how to put your equity to work for you. You may be in a position to pay that equity forward toward your next home purchase and afford it sooner rather than later.