Now is the perfect time to sell & fall for a home you love. Take advantage of the of the upcoming real estate market.
WHAT SHOULD I DO...
Sell now or wait?
Deciding whether it’s the right time to sell your home is a very personal choice. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market. Historically, spring and summer are usually the best times of year to sell a house. But beyond seasonality, there are many factors that might make selling your home a wise decision. If you've been contemplating selling, the upcoming real estate market holds promise.
SHOULD I SELL MY HOUSE NOW?
Factors that make selling your home the right choice.
lf rates are low
This is not the case currently, but we are heading in that direction. Low interest rates entice more prospective buyers to enter the market, which is advantageous for sellers.
If supply is low
This is the case currently. A shortage of housing inventory also drives up demand and prices for available homes. What’s more, when housing supply is low, homes on the market tend to sell faster.
Need to downsize
Downsizing may be a more budget-friendly choice than continuing to maintain a larger, costlier home. For older homeowners, downsizing may even be a necessity.
Need to relocate
If you’re relocating to a new state for a job or want to enjoy your retirement in a new area, and you need the profits from the sale to put toward your next place, selling may be unavoidable. The time to sell is when you need to sell.
Want more information or ready to get started?
Charlotte Real Estate In Numbers 2023
$377,500
MEDIAN SALES PRICE
97.2%
% OF ORIGINAL LIST PRICE RECEIVED
$461,014
AVERAGE SALES PRICE
WHAT ABOUT THE
Looming recession?
The U.S. economy is looking pretty good for 2024! According to the Congressional Budget Office (CBO), we're on track for a smooth landing without any recession scares. The latest projections hint that inflation is getting back to normal, adding to the positive vibe. And get this – the Federal Reserve's recent projections say that most officials are thinking about three rate cuts toward the second half of 2024. Exciting times ahead for the economy! But don't get too excited, mortgage rates will remain above pandemic-era lows. (source)
TODAY
Rates are dropping
Rates are dropping today, but sellers in Charlotte still have the upper hand thanks to low inventory. The good news is that interest and mortgage rates are slowly going down, giving folks a bit more wiggle room in their budgets for mortgage payments. According to a Zumper report, a whopping 69% of renters were put off from buying homes in 2023 because of crazy high interest rates. But hold on, things are changing – with rates easing up, buyers who were on the sidelines are gearing up to join the market!
STILL HAVE QUESTIONS?
Want to explore the idea of selling your property?
Whether you just have questions and need answers or you would like to explore the idea of selling, let's talk.
Brittney McDonald, NC REALTOR - Powered By Noire Group