If you are thinking about selling your Raleigh area home, now is the best time to do it.
The available homes for sale in Wake County are well below historic norms, and buyer demand for homes is skyrocketing. As a potential Raleigh, Durham, and Chapel Hill area home seller, you are in the driver’s seat right now. In this type of market, you as the home seller may hold a major negotiating advantage when it comes to home price, home inspection, appraisal, financing contingencies and other aspects of the real estate transaction.
The best time to sell a home is when the supply is low and the demand is high, as it is now. We have not seen this type of sellers market in the Wake County area since 2006. Turn on the news and you will hear everyone talking about a housing shortage.
How Long Will the Triangle Real Estate Market Favor Home Sellers?
Two years, perhaps less.
Construction on new homes is kicking into high gear. Once these new homes are built and ready for buyers, the resale market of previously owned homes will take a back seat and the opportunity will stall. Days on the market will increase for sellers, and home prices will flatten out.
We expect to feel the effects about a year from now.
Take Advantage of the Home Sellers’ Market Now
Consider whether your Raleigh, Cary, or Durham housing needs will change in the next 12 to 24 months. Are children moving out to attend college? Are you retiring or relocating to a new area? Are you just ready for a new home?
If you’ve answered “yes” to any of these questions, consider selling your home now rather than waiting a year or more. Don’t let this prime opportunity in the Triangle real estate market pass you by!
Sell Your Home with Linda Craft & Team
Our real estate team monitors the market changes carefully in order to advise our clients correctly. If you are thinking about selling your Raleigh area home, contact Linda Craft & Team. We’ll be happy to give you a free consultation and market analysis. If you’re relocating, we can give you a Realtor referral to connect you with an expert in your destination area who can help you find your new home.
Until next time,