March

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:

Continued low supply means more opportunities for sellers.

A balanced housing market is often represented by a six-month inventory, meaning it would take 6 months to sell all current homes on the market if no new properties were introduced. Our market is notably understocked with only a 1.4-month supply. Combined with a 3.8% decrease in closed sales, competition for homes has become more intense.

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.

New listings see a tiny increase, but the market is increasingly favoring sellers.

There’s been an 1.3% uptick in new listings in Myers Park over the last year, indicating a boost in seller confidence with the stabilization of interest rates and more buyers actively searching.

Even with this uptick, inventory remains tight, and buyers’ options remain slim, which increases the demand for your home. A solid strategic pricing and marketing plan brings top dollar and a quick sale that gets you where you are going faster.

Quick sales and higher prices are still trending.

Demand outweighing supply continues to put pressure on prices, pushing the median sales price for single family homes up 16% from last year to $1,725,000 while median days on market is unchanged at 4. The supply crunch seems here to stay, 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 2/29/2024

LOOKING AHEAD

1. Home Values Continue on their Upward Trajectory

Home prices continue to rise due to a confluence of factors creating upward pressure on the housing market. Primarily, there’s a persistent shortage of housing inventory; fewer homes for sale means higher demand for each available property. 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. The Scarcity of Supply Persists

The scarcity of housing supply persists largely due to the mismatch between the rapid pace of population growth and housing demand, and the reluctance of homeowners to lose low mortgage rates.  Homes that are priced correctly and marketed strategically are selling quickly, and often with multiple offers.  

3. Why Strategy Matters

Strategy matters when selling your home because it can significantly affect the sale price and the time it takes to sell. A well-thought-out strategy with a real estate professional that knows your local market can help position the home to attract the right buyers, highlight its best features, and create a competitive environment that can lead to better return on your investment.