September 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:

Market activity appears to be slowing.

Closed sales are down 7% from last year while new listings in Myers Park also decreased 6.7%. These numbers suggest a softening in the market where activity from both buyers and sellers has diminished. This can impact pricing trends, days on market, and overall market disposition.

With fewer properties on the market and a drop in transaction volume, sellers may need to reassess their pricing strategies. Overpricing can result in fewer offers and longer days on the market. Implementing a well-thought-out pricing and marketing approach is essential to ensure a swift sale and prevent your property from staying unsold for an extended period.

Longer days on market take the pressure off buyers to make hasty decisions.

Days on market increased 75% yet remain remarkably low at 7. This rise affords buyers time to carefully consider their options. Less pressure on the buyer leads to more serious offers and fewer broken contracts, which ultimately benefits the seller.

This dynamic, while different from the fast-paced markets where sellers often get quick bids, can result in a more stable and satisfactory sale process.

Despite slowed market activity, strong demand continues to push home prices.

Regardless of the signs of a cooling market, there is still strong demand in Charlotte due to its population growth and economic opportunities. This continues to place pressure on prices, pushing the median sales price for single family homes in Myers Park up 20% from last year to $1,950,000.

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 September 2024

Single Family Home Stats	2023 vs 2024	Analysis
Median Sales Price	Up 20%	Median sale price is $1,950,000. Pricing correctly from the start, allows you to maximize offers and obtain the terms and price you prefer.
New Listings	Down 6.7%	140 new listings hit the market this month.
Median Days on Market	Up 75%	Median days on market have been consistently 4 since Jan 2023, but are beginning to creep up and are currently at 7.
Price per Square Foot	Up 8.2%	At $526/sq. ft, Charlotte’s persistent low inventory is driving property values up, causing space to command higher prices.

*Source: Canopy MLS through 08/31/2024

What Clients Are Saying

Stephanie enabled our out of state move to be seamless and expeditious. Her knowledge in real estate and the Charlotte market are unmatched, making the selling experience easy and successful. Stephanie listens extremely well to client desires and concerns, addressing them with a well developed strategy to meet all needs. Her home selling advice was impeccable and working with her absolutely exceeded our expectations. She was more than attentive and went above and beyond to represent us in the sale of our home. Consult Stephanie for an extraordinary real estate experience. She’ll take great care of you!

Seller

Stephanie is a TRUE professional in all respects. She knows the Market, she asked the right questions to assist us in targeting homes, and truly put our interests as her priority. You cannot go wrong with Stephanie

Out-of-State Buyer

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. 6 months out and I love this home even more. Thank you, Stephanie

Buyer