December Market Report

Dear Neighbor,

Selling a cherished home, particularly one with significant value and many memories, is a high-stakes and often emotional decision. The process can be daunting, given the need to protect privacy, minimize disruptions, and stay informed of the dynamic and unpredictable market conditions.

For many of us, our homes are our largest financial asset. It is important to understand the local market and its impact on the value and sale of your home. You don’t want to leave a transaction of this magnitude up to chance and you’re right to want the facts.

Here are the top things you need to know:

Strong market growth continues.

Myers Park continues to show strong positive momentum, with continued year-to-date increases in both sales prices and price per square foot. The median sales price is up 13% at $1,850,000 and price per square foot is up 5.6% at $530.

Sellers remain in a favorable position, with home values trending upward. The current market conditions offer a promising opportunity for sellers to secure a strong sales price, but careful attention to pricing strategy, property condition, and timing will help maximize success.

Buyers face limited options as the market tightens.

Our market is experiencing a slight decline in inventory, with new listings down 1.4% YTD. This reduction in listings is limiting the supply of available homes. Despite the drop in inventory, closed sales have only seen a modest increase of 0.8%, indicating that while demand remains relatively steady, the pace of transactions has not significantly accelerated.

The market’s current dynamics suggest that buyers are still active but facing challenges in finding suitable properties. While sellers may benefit from reduced competition, they must remain mindful of pricing strategies to attract offers in a tighter market.

Market shows signs of slowing but homes still selling at list price.

The market is showing some signs of slowing down, with days on market increasing by 75%. However, even with this significant rise, the median days on market remains historically low, at just 7 days. Regardless of a bit more time on the market, closed sales continue to maintain strong performance, with homes still selling at 100% of their original list price.

Sellers may need to exercise patience as homes are staying on the market longer. To maximize price, it’s important to price strategically and showcase properties in a way that maintains buyer interest.

As a homeowner, what does this mean for you?

If you are thinking of selling in the next 12 months, preparing now gets you the results you deserve and avoids the stress you don’t need.

This is likely your largest personal investment. You can rely on me to provide professional direction and support throughout the entire transaction. With in-depth knowledge of the market, property values and local trends, I will help you make well-informed decisions as you navigate the complexities of the real estate transaction.

From day one, the weight of this transaction is lifted from your shoulders. We start with your customized strategic marketing plan and go from there. To maximize your ROI, I can help connect you with top-notch professionals to help you ensure your home can win the highest possible price. And when it’s time to go to market, I combine detailed market research with proven marketing strategies to get you the best possible price in the least amount of time.

If you are thinking of selling your home in the next 12 months, call me today for your initial, no obligation consultation > 704-604-1210

We will cover your goals, my unique approach to getting you the highest possible price in the fewest days on market, and if it’s a fit, next steps from there.

Call today > 704-604-1210

To your success!

Stephanie Cline
Belle Properties
belleproperties.com
stephanie@belleproperties.com
704-604-1210

Myers Park Market Highlights for December 2024

*Source: Canopy MLS through 11/30/2024

What Clients Are Saying

Stephanie is incredible!!! She has helped me in the process of buying two homes and selling one. Each time everything was so seamless and she helped me every step of the way, even after the deals were finished. Stephanie knows the market, is incredibly responsive, and handles all situations with ease and professionalism. She will always be my go to Realtor!

~Seller and Buyer

Stephanie proved to be an extremely talented realtor through her keen insights into the housing market and how best to showcase our home to potential buyers. We collaborated to build a plan and communicated frequently to ensure we were following it. As a result, our home went under contract in less than 24 hours. I would choose Stephanie as our realtor over and over again!

~Seller

I don’t know what I would have done without Stephanie Cline! I was originally looking for one thing and in the middle of our search needed something different. She was patient, kept me focused, and steered me away from mistakes to find the perfect home! She protected my interests while being fair to everyone and holding my hand through a very quick sale! With her market knowledge and guidance I felt totally confident throughout the entire process.

~Buyer