Is Fall the Right Time to Make a Home Sale?

Right now is a great time to sell your home. Not only is there less competition for you to face, but buyers are far more serious this time of year.

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During this time of year, homeowners who are thinking about selling their home often face the same question: should they list now or wait until spring?

If you find yourself in the same situation, we think you should try to sell now. The number one reason is the lack of competition you’d face. By comparison, many more people are planning to list their homes come springtime.

Another reason is that many people expect interest rates to increase next year. If they do, that will make it harder for potential buyers to buy your home, thus shrinking your buying pool. A number of job changes also occur at the end of the year, and the people who are affected by this will need to move quickly. This means you’ll deal with serious buyers only instead of any looky-loos like you would in spring.

With that in mind, what’s the fall/winter season going to look like for the Charlotte market? We think it’s going to be strong, and we base this on four statistical indicators measured over the past year:

• Pending sales are up 18%  
• The average days on market before homes go under contract is down 28%  
• Supply is down 28%
• The number of showings per listing is up 28%

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The Charlotte market is strong right now.

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If any of this sounds interesting and you’re considering jumping into the market, give us a call. We would love to help you out!

Why Should You Consider Buying Now?

Buying a home now in the Charlotte area means you'll be able to take advantage of some key benefits the marketplace is offering.

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A lot of people don’t even entertain the possibility of buying a home in the fall or winter months. Contrary to popular belief, we think that this is a great time of year to buy a home. Here are five reasons why:

1. Less competition. For houses that are on the market, there are fewer buyers right now. There aren’t as many people to compete against for the best houses, giving you a better shot at securing them.

2. Tax advantages. If you buy towards the end of the year, closing costs and property taxes would be deductible. These benefits are unique to home buying.

3. Close faster. The main reason transactions close faster during this time is because there aren't as many transactions. Attorneys, inspectors, and lenders have less work, so the process moves along a lot faster.

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The process moves along much quicker in the fall.

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4. Motivated buyers. They want to get moved and settled in before the holidays.

5. Lower interest rates. The Fed is suggesting that they will increase interest rates next year. Buying now means saving a lot on your loan long term.

If you have any questions for us or you are looking to buy or sell soon, give us a call or send us an email. We would love to hear from you.

Charlotte Market Snapshot

The Charlotte real estate market is humming along quite nicely. Sales are up, homes are selling quicker, and inventory is down.

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We have a short update to share with you today on the current state of the Charlotte real estate market. We looked at the metro area numbers over the last four months, which is essentially the entire summer. 

When we looked at this summer’s numbers compared to last year’s, we saw that the number of sales were up by 3%. This is good, but what was even more interesting is the fact that this number was much higher in certain price segments.

For example, for homes priced $250,000 to $1 million, sales were up 20%. Home sales in the $1 million to $2 million range jumped up by about 46%!

As for what we predict will happen for the rest of the year, we like to look at a few specific measures. The first is pending sales. Those are up 18% overall, and they are up 40% in the $250,000 to $1 million range. The inventory and average days on market are both down by 26% from last year. Also, the showings per listing is 28% higher than it was last summer.

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All indicators point to a strong 4th quarter.

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Really, all signs point to the fact that it’s going to be a strong fourth quarter. If you have any questions or are interested in buying or selling, give us a call or send us an email. We look forward to hearing from you.