Home buyers searching for houses in the Research Triangle have always counted on plenty of inventory. Recently though inventory is much lower than previous years. However, this is the perfect time for seller’s to take advantage if their home is prepared to sell. Homes that are move-in ready or even fixer-uppers that are priced wisely have a fantastic outlook this season. The key to these situations is pricing. And the right real estate agent will be able to advise you about your specific property.
This area is one of the fastest growing in the country, Raleigh in particular, and new construction is booming again. With the growth of new construction, owners of existing homes who hope to sell in the near future need to pay close attention to the market. When the new construction homes begin to hit the market there will be more competition which is important to note the brevity of the current market.
Breaking it Down
Today, there are 30 percent fewer new homes available over last year, and last year, the numbers were less than the year before. These numbers are expected to rise along with the help of new construction. According to recent population estimates, the Raleigh-Cary Metropolitan area increased its population by 4.5 percent from the 2010 census to July 2013, making it the 13th fastest growing area in the nation. Next door, the Durham-Chapel Hill metro area grew by 3.4 percent, giving it the rank of 34th fastest growing area in the nation. These numbers create a big demand for housing.
Sellers Take Note
Increasing home values and current interest rates are creating a great environment for those who hope to sell their home and immediately move into another. Existing homes are oftentimes receiving multiple offers when priced wisely because of low inventory and quality homes on the market. If you are interested in selling this summer, please don’t hesitate to contact us. Need more information about the selling process? Check out our Definitive Guide to Selling Your Home: