Hello, and welcome back to our blog here at Team Anderson Realty. If you missed our last blog, we covered several reasons you may want to sell your home including lifestyle changes, emotional preparedness, and financial reasons. However, these are just a few of the reasons you may want to sell your home. In this blog, we’ll talk a little bit more about the North Carolina real estate market and how it could affect your decision to sell or hold off until a better time.
Contact Team Anderson Realty today if you’re looking for a reputable real estate agent in Holly Springs or the surrounding area.
State of The Market
This is where it starts to get a little complicated. Like we talked about earlier, homes are a unique asset. With that being said, you can’t just shop for a new home like you shop for groceries. Although the price of groceries does fluctuate every once in a while, it’s not a day-to-day thing, and it won’t affect you enormously if the price of milk goes up five cents. However, imagine you spent your whole life saving up for that jug of milk. All of a sudden that five cents makes a huge difference.
The real estate market is similar in that the prices of homes are fluctuating by the thousands practically daily. If you’re like most people, you probably haven’t spent the last ten years following everything that’s going on in the market, so it can be a little disorienting. One important distinction to make is the difference between a buyer’s market and a seller’s market.
A buyer’s market refers to a market where there are more houses on the market than there are buyers. If you’re a seller, this means that your house will be on the market longer and likely sell at a lower price point.
A seller’s market is the opposite of a buyer’s market meaning that there are not enough houses on the market to meet the demands of buyers. When this is the case, sellers can expect their home to sell quicker and at a higher price point.
It’s important to realize that housing markets are highly localized. Although it’s important to understand the overall condition of the housing market throughout the United States, your local housing market is even more important to understand. If you’re looking to sell your home, you’re first going to need to speak with an experienced realtor who has experience buying and selling in your area.
Contact Team Anderson Realty
Need a partner you can trust in the real estate industry? Having helped countless home buyers and sellers just like you in Holly Springs and the surrounding area, Erica Anderson is one of the most reputable realtors in the area. If you’re struggling to determine whether you want to sell right now or wait it out, contact us today and we’ll provide you with all the information you need to know.