Tag Archives: Wake Forest

Buyers’ or Sellers’ Market in the Carolinas?

Buy Sell Scale_Can StockWhat exactly is a buyer’s market?  A Buyer’s Market is when we have more homes for sale than buyers.  In this market buyers can leverage the over-supply of homes to their advantage and get very favorable terms such as lower prices, receive closing costs and can take their time with selection.  Buyer’s markets are often identified with a depressed market or declining market and the obvious signs are very few offers in a buyer’s market – best offer is the only offer you received and it’s really low.

So what exactly is seller’s market?  A Seller’s Market is when we have fewer homes for sale than buyers.  In this market sellers can leverage the under-supply of homes to their advantage and get very favorable terms such as higher prices, pay little to no closing costs for the buyers and get quick turnarounds.  Seller’s markets are often identified with a real estate market that is improving and/or getting hot, with multiple offers in a seller’s market – pick the best of many offers received and often they are over the asking price as buyers are competing.

Another way we track whether we are in a buyer’s or seller’s market is our current monthly supply of inventory.  This market statistic demonstrates how many months of supply would be left if no other seller placed his house on the market.  The breakdown would be the following:

1 to 5 months = seller’s market – price is appreciating

5 to 8 months = balanced or normal market – price is stable

8 months and more = buyer’s market – price is depreciating

So how are we doing in North and South Carolina?  Reviewing the last 12 months ending October, 2013 for single-family homes and condo/townhomes for a few areas in NC and SC:

  • Charlotte, NC = 5.5 months with our best month in 2013 of 4.4 months
  • Triad Region, NC (Asheboro, Burlington, Greensboro, High Point, and Winston-Salem) = 9.5 months with our best month in 2013 of 6.3 months
  • Triangle Region, NC (Raleigh area) = 4.8 months with best month in 2013 of 3.8 months
  • Greenville, SC = 6.7 months with our best month in 2013 of 5.6 months
  • Piedmont Regional SC (York, Lancaster County, Lake Wylie) = 6.9 monthswith our best month in 2013 of 5.4 months

As you can see from these numbers across the Carolinas, our trending for the last 12 months demonstrates we are moving out of a buyer’s market and into a healthy/balanced market, which means a great equilibrium for both sides of the transaction.  The monthly supply inventory numbers of 2009 thru 2012 were often double-digit numbers of 10 months and more indicating a strong buyer’s market for many years, with falling prices.  Now with these monthly supply inventory numbers decreasing into single-digit numbers, we are starting to see price appreciation in all of our markets.  A few of our markets are even starting to evolve into a seller’s market!

So what does all of this mean to you?  It means the NC and SC residential real estate market in 2013 showed solid improvement throughout the year and continues to build strength.  If you are thinking of buying a home, low interest rates and good pricing results in high affordability.  If you are thinking of selling your house, the improving market means more activity and better chances of market-value returns for your equity investment.

Reposted from Allen Tate Blog by Tony Jarrett


Simply Thankful

Real Estate

Real Estate (Photo credit: wvhomes)

It feels wonderful to be back blogging again. I’ve been on hiatus from a very busy year, in which I’m simply thankful for, and I haven’t had the time to post.

It has been a very prosperous year for  my clients.  My sellers have been able to have their home values preserved, buyers have been enjoying low rates and lots of inventory, and I’ve been active in quite a few bidding wars and multiple offers.

It’s great to report that business has been good, homes have been selling, and buyers have been buying.  For this and so many other things, I am truly grateful.

Even with the approach of the holiday season, the real estate market in Raleigh, NC and surrounding areas  remain promising and steady.  Home values are increasing, rates are still at an all-time low, inventory is shrinking, and the cost to rent is climbing.

Yep!  I’ve decided that my hiatus is over.  Even though things have picked up for me tremendously,  I need to get back to sharing my experiences as a  professional real estate agent, licensed in the state of NC who works deep in trenches, with all who will listen.  Please feel free to visit my website!

Hello world! Welcome to my blog!

Welcome to my blog!

I decided to start this blog for buyers, sellers, renters, and current homeowners with the goal of keeping you current on buying, selling, and renting real estate.  Also, I will discuss topics that relate to credit, the economy, your finances, home improvements and repair, home life, family life, and so on.

Why did I choose to blog?  Well, I’ve always wanted to be a writer, and it’s in my nature to counsel, educate, nurture, and support.  With blogging, here’s my chance to do it all from the viewpoint of a profession that I love – real estate.

As a native to North Carolina and being a Triangle resident of 19 years, I’m no stranger to this wonderful state!  From the mountains to the coast, the scenery and attractions are numerous and beautiful – rolling hills, pastures, farms, prominent cities, zoos, beaches, you name it!

I was born and raised in Hallsboro, North Carolina in Columbus County, located in the southeastern portion of the state.  I moved to the Triangle area after high school and decided to make this area my new home after attending North Carolina Central University in Durham, NC.  There I graduated with high honors and received my BBA degree with a concentration in Marketing.  Since then, I’ve lived all over the Triangle with my husband and three children!  I’ve owned two homes thus far.  Nothing like owning a home!

More about my business side?  Well, marketing, sales, management and customer service are my specialties. It only makes since to couple my love of the state and my “know-how” and become a full-time Real Estate Broker.  I enjoy helping people, and what I do everyday is help families move forward into their new Triangle lifestyle.  Once you get to know me, I love to talk!!  I could go on and on, but since this is my first blog, I’ll keep this one short & sweet!

Please visit often as I will be adding new content several times a week.  Your comments are welcome.  I do appreciate you taking time to read this and to keep up with me and my journey into and beyond this great profession.

Have a great Easter weekend!

Thanks for your support!!

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