June 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:

New listings continue to rise.

New listings in Myers Park increased 7.4% over the last year. More listings can lead to increased competition among sellers. These numbers demonstrate the importance of competitive pricing.

As inventory expands and buyers have more options, the demand for your house decreases. 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.

Despite a 33.3% increase in supply, our market is still notably understocked at 1.6-months. This shortage is still pushing buyers to act quickly when a house hits the market. Median days on market remain consistent at 4. Houses that are priced to compete often receive multiple offers with seller preferred terms and sales price.

The numbers demonstrate strong opportunity for sellers in our neighborhood. Homeowners looking to capitalize on the current market demand will be putting a pricing and marketing strategy in place now to secure the highest possible sale price.

The demand is not slowing down, and prices are still rising.

Strong demand and low supply continue to place pressure on prices, pushing the median sales price for single family homes up 24.2% from last year to $1,899,999. The perpetual problem of limited supply seems to be persisting with no relief in sight.

This high demand really demonstrates the importance of pricing and marketing your home strategically. The last thing you want is for your property to linger on the market or to sell at a price lower than its potential value.

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 June 2024

*Source: Canopy MLS through 05/31/2024

LOOKING AHEAD

1. Home Values Continue to Rise

Rising home prices are attributed to a combination of factors driving upward pressure in the housing market. Mainly, there’s an ongoing shortage of housing inventory, resulting in heightened demand for each available property. By employing strategic marketing and positioning strategies, you can leverage the equity you’ve accumulated to achieve optimal returns on your investment in the current market climate.

2. Charlotte is Attractive to New Businesses

Charlotte continues to draw new companies due to its business-friendly environment, strong economy, and abundant talent pool. 125 people move to Charlotte a day and these new buyers are drawn to neighborhoods like Myers Park and the surrounding areas. Effective marketing and strategic positioning can leverage the equity you have accumulated, ensuring a premium return on your investment.

3. Why Strategy Matters

The real estate landscape is inherently local, always changing, and strategies must keep pace. By partnering with a knowledgeable local real estate expert who understands how to market effectively to the most suitable buyers, you can confidently sell your home in a timely manner and maximize the profit for your unique property.