Feb 24′ Market Report

Dear Neighbor,

Selling a cherished home, particularly one with significant value and many memories, is a high-stakes decision. The challenges of ensuring privacy, managing potential disruptions, and maneuvering an always changing market can be overwhelming.

For many of us, our homes are our largest asset. It is important to understand the local market and how it affects the value and sale of your Myers Park 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:

Homeowners can anticipate further growth in equity.

Interest rates remain steady, enabling a larger pool of potential homebuyers. This surge in buying capacity can escalate competition for homes, particularly when inventory is limited, leading to an uptick in property prices as buyers vie for the available homes. Closed sales are down 9.9% from a year ago and our neighborhood inventory remains extremely low at 1.4 months’ supply.

The numbers demonstrate strong opportunity for sellers in our neighborhood. Homeowners who want to take full advantage of current demand should be putting a pricing and marketing strategy in place now to win top dollar.

With fewer homes being listed, the market is increasingly favoring sellers.

Myers Park saw a 10.5% decrease in new listings from the previous year. Homeowners, benefiting from low mortgage rates, are opting to keep their properties rather than sell, even with the opportunity for substantial profit.

Tightened inventory means buyers have less options and the demand for your home increases. A solid strategic pricing and marketing plan brings top dollar and a quick sale that gets you where you are going faster.

Homes are still selling quickly, and for higher prices.

Myers Park remains one of the most desirable areas for buyers. Demand outweighing supply continues to put pressure on prices, pushing the median sales price for single family homes up 25.7% from last year to $2,200,000 while median days on market dropped 20% to 4. There is a supply crunch and buyers are feeling it.

This high demand really demonstrates the importance of pricing and marketing your home strategically. The last thing you want is for your home to linger on the market or to sell for less than you could have gotten.

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, so you can count on me to act as your professional guide throughout the entire transaction. With clear communication and a strategic plan with a step-by-step layout, I help you make thoughtful, informed decisions so you never feel lost or out of control.

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 February 2024

*Source: Canopy MLS through 1/31/2024

LOOKING AHEAD

1. Home Values Persist in Their Growth Trend

Charlotte’s ongoing development and investment in infrastructure signal long-term growth. The city’s appeal as a cultural and commercial hub means more people are relocating and further driving up property demand. Strategic marketing and positioning allow you to capitalize on the equity you’ve built to get top-of-the-market return on your investment.

2. Supply Continues to be Scarce

There is only so much property available in Myers Park in the first place, and with new listings dropping from the previous year, inventory is even tighter. A low number of homes for sale combined with a strong pool of buyers yields healthy competition. Homes that are priced correctly and marketed strategically often sell quickly, and with multiple offers.

3. Why Strategy Matters

The market consistently evolves, and a plan of action must be relevant. With the guidance of a real estate professional who knows your local area and how to properly market to buyers that are the most qualified, you can easily ensure your home sells within a reasonable timeframe and for a healthy return on your investment.