October Market Report

Dear Neighbor,

Selling a cherished Myers Park 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 growth for the city means more opportunities for sellers.

The Queen City’s deep and diverse talent pool is attracting more companies. New research from the Charlotte Regional Business Alliance found that 113 people a day are moving to the region, the highest level in more than a decade. This continued growth coupled with consistently low inventory is keeping our real estate market strong. Housing supply in Myers Park is just 1.7 months; if no new homes entered the market, all the homes currently for sale would be sold in just 1.7 months’ time. For reference, a balanced market is 6 months.

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.

More homes are entering the market, but the “seller’s” market is remaining strong.

Myers Park saw a 9.1% increase in new listings – a sure sign. of seller confidence and a nice surprise for buyers. The fall market is a bit slower than spring and early summer giving buyers some breathing room. This brings a solid buyer and is imperative when desiring top dollar for your sale.

When inventory is tight and buyers have few options, the demand for your home increases. Having a strategic pricing and marketing plan from day one is critical to ensure your home is a standout and commands the highest possible price quickly. A quick sale helps you get to where you are going faster.

Despite increased competition among sellers, homes are selling quickly, and for higher prices.

Our growing population has created a strong, sustained demand for Myers Park homes and the market is not keeping up. Demand outweighing supply continues to put pressure on prices, pushing the median sales price up 13% from last year to $1,300,000. While median days on market dropped significantly 33.3% to just 4 days. There is definitely 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 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 September 2023

Single Family Home Stats	2022 vs 2023	Analysis
Median Sales Price	Up 13%	Myers Park is highly desirable, and the median sales price continues to increase as a result and is now $1,300,000. Increased population and limited inventory have helped maintain strong demand for existing properties despite higher interest rates.
Median Days on Market	Down 33.3%	Median days on market are exceptionally low at 4. Current high demand and very low supply play a major role. Expertly positioning your home ensures you sell quickly and avoids letting your home linger on the market.
New Listings	Up 9.1%	As the number of new properties listed on the market grows, the market will begin to equalize, further highlighting the importance of correctly pricing and positioning your home from the beginning so you can get top dollar as “best in class” rather than languishing on the market.
Price per square foot	Up 13.6%	At $467, price per square foot has increased 13.6% year over year. With the right strategies in place, you can capitalize on the high demand for our area and get the results you deserve on a timeline that works for you.

LOOKING AHEAD

The Supply of Available Homes

There is only so much property available in Myers Park in the first place, and while we are seeing more homes listed than a year ago, the number of homes available on the market are still extremely low.
This low inventory combined with a strong pool of buyers yields healthy competition. Homes that are priced correctly and marketed strategically often sell quickly with multiple offers giving you the assurance that you’ve secured the best possible price.

Buyers Are Eagerly Searching

As Charlotte continues to grow Myers Park property values will only increase. In summary:

Forbes ranked Charlotte as the #1 housing market for 2023 in the US.
Charlotte is a hub for finance and banking and is seeing a surge in tech and healthcare industries, further bolstering its economic resilience.
Myers Park homes tend to maintain high property values making it a good investment for homebuyers.
Myers Park caters to a lifestyle of convenience, comfort, and luxury that continues to attract buyers to the area.
Why Strategy Matters

The market consistently evolves, but 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 retu