We are in a Seller’s Market
The mountain home market has calmed down since the ‘unicorn’ years, but there is still a strong preference for sellers due to the scarcity of available properties. But what exactly does that mean for you? Why, you may ask, is now a good time to sell a home here in the North Carolina High Country?
NAR’s most recent Existing Home Sales Report confirms the continued shocking scarcity of available homes. The quantity of houses on the market is referred to as the inventory. Another metric is the months’ supply, or the time it would take at the current sales rate to deplete the inventory. About a six-month supply is typical in a well-balanced market. The present sales rate has resulted in a housing inventory that will last only around three months (see graph below).
Given the existing stock of available properties, as depicted in the image, the market is still in favor of sellers.
The market is far from being balanced at the present time. The current supply of months is actually only half of what would be seen in a normal market. That means, given the current rate of homebuyer interest, there are just not enough houses to go around.
According to NAR’s Chief Economist Lawrence Yun:
“There are simply not enough homes for sale. The market can easily absorb a doubling of inventory.”
What advantages do you have as a seller in this current market?
You, the seller, have the upper hand under these circumstances. There is currently a market of purchasers that are able, willing, and ready to acquire a home. Since there aren’t a lot of houses on the market, the ones that do come up for sale attract a lot of attention.
Working with your trusted local real estate agent, Lori Eastridge, to put your home in the market while it is in prime shape and at a competitive price could result in a quick sale. You could get more than one offer and if positioned right in the market it could go under contract for over listing price.
Why work with Lori Eastridge of NC High Country Real Estate powered by Realty One Group Select?
When you list your home with Lori, you’ll receive personalized guidance, expert advice, and innovative marketing strategies that set your property apart. Whether you’re a first-time seller or a seasoned investor, Lori’s expertise will ensure you get the best value for your investment.
Let Lori Eastridge of NC High Country Real Estate make your real estate sale journey a rewarding and delightful one. Reach out to Lori today to begin a conversation. You can reach her at 828.773.2080 or by email [email protected]
