Spring is knocking at your door. See that giant orb in the sky? It’s the sun. We haven’t seen it much lately, but that’s about to change. The Cherry Blossom trees that pepper the city are anxious to burst with color. All of that means the prime home buying and selling season isn’t far behind.
Are you are considering buying or selling a home this spring? Do you have questions, concerns, maybe hopeful spring-like thoughts about the seasonal market? Of course, you do. From the broad view of interest rates and market trends to the more granular perspective of your street in your neighborhood and your home, we know there is a lot to consider. You don’t take it lightly and neither do we.
First let’s take a look at the overall market.
The market in the Charlotte region has been correcting itself beginning at least 18 months ago. It has shifted from a heavily favored seller’s market to a more equal seller/buyer market.
Here’s a quick history lesson. The summer before last, our buyer’s were faced with low inventory, lots of buyer competition, multiple offers and an absolute over list price offer to be competitive. When that buyer/seller climate began to shift and slow, those of us who had lived through the last real estate crash waited with baited breath to see how volatile this shift would be. What happened is a slower and more healthy real estate pricing trend. This scenario works for everybody! A win-win!
Here’s why we feel really good about the upcoming Spring real estate season.
Buyers are buying. It’s helping that average mortgage rates have declined this year. Right now, they are looking for, and won’t seem to budge on, Fair Market Value. If the buyer’s perception is the property is over-priced for what they are getting they will move on without giving it another thought. Buyer’s are value driven. Don’t take that the wrong way, that doesn’t mean cheap. They will buy as soon as they see something they feel good about. We can help get a house ready for buyers to feel good about.
Seller’s need to feel good about selling. There are some great homes available even right now but we still need more inventory in Charlotte. There are just so many different selling scenarios. One thought that has kept sellers in place up to this point is that with the rapidly rising real estate prices why sell high and buy even higher? Now that the market is leveling out and price growth has slowed this should provide those sellers with opportunity to buy that next home upsize or downsize.
Let’s talk about the market. We’d love to continue this conversation with you. Our experienced agents can explain the current trends in a way that makes sense to you.
Let’s talk about how we can ease your mind of any concerns or answer any questions you may have.
Let’s find you a home! We’d love to connect with you on Facebook!