Why 2015 is a Great Year to Sell Your Home
Are you thinking of selling your home in Cary, Apex, Morrisville or the Raleigh area? If so, then now is the time to get your house on the market.
Inventory is low and we have home buyers who are ready to purchase a new home before interest rates rise. In the 4th quarter of 2014, inventory decreased by 12% in Cary, Apex, and Morrisville, and resale inventory decreased by 19%. When the housing supply is lower than 3 months, it is consider undersupplied and 4th quarter data shows that we have only 2 months’ supply of inventory.
More recently, the bar graph below show the reduction of supply of real estate inventory. Where in February 2013 there was almost a 3.5 month of supply vs 2 months in February 2015.
Additional Reasons to Sell Your Home Now
- Demand is strong
- There is less competition, however historically competition will increase in the 2nd Quarter
- There will NOT be a better time to move-up! Cost and prices are also moving up.
- Prices are projected to increase by 23.5% from now to 2019
- Interest rates are still low and money is on sale
Best Reason to sell your Home Now – Buyers are Waiting!
We currently have a list of buyers who are looking for homes in Cary, Apex and Morrisville but are still waiting for the right house to come on the market. Sellers it is your time to shine! If your home value is between $300k and $350k you can expect heavy traffic as that was the best price point for showings in the 4th Quarter of 2014. However, many higher priced neighborhoods are in high demand. Lochmere neighborhood is the number one shown subdivision in Cary with an average list price of $425k. Preston, Kitts Creek, Twin Lakes, Cameron Pond, Amberly, Cary Park, MacArthur Park, Scotts Mill, and Breckenridge round off the top 10. In Apex, Haddon Hall, The Villages of Apex and Waterford Green are the most popular.
Additional good news for sellers in Cary, Apex and Morrisville is that the average days on market has decreased to 90 days and the average list price has increased 14% to $435,000.
Is your House Priced to Sell?
It is still important to ensure that your house is priced correctly from the start. Homes that sold at original list price sold on average in 21 days versus homes who sold lower than list price which took 84 days. If you would like a FREE Market Analysis of how much your home is worth and Get Your Home Value visit our website.
Work with a Team that Can Sell Your House Fast!
Affiliated with the #1 Real Estate office in Cary North Carolina, Michele Langley is a Realtor and Relocation Specialist serving Cary, Apex, and Morrisville. If you or someone you know is ready to sale a home in Raleigh, Cary, Apex, Morrisville, contact Michele Langley to sell your home using the highest-quality marketing and social media strategies.