Question is “Holy Crap, You must be busy?”
It’s no secret that we’re in bit of a SELLERS market and many folks are no longer wondering what their house is worth. They’re wondering “What can I GET for my house?” Truth is…There has NEVER been a better time to take advantage of your investment and cash in on your equity. On the other hand, there’s never been a worse time to buy!
Here’s what housing looks like in Mooresville currently:
- In February 2020, 465 homes were for sale in Mooresville. In February 2021, only 121 homes. That’s a 74% drop in only 12 months. (Demand is high to say the least)
- 12 months ago, the median sales price for a home in Mooresville was $310,000. Today the Median Sales price is $350,000
- Closings are up 20% compared to this time in 2020
- 1 year ago Home inventory supply was 10 weeks. Currently Home inventory supply is 18 days. This means that if no other homes come to market there will be no homes to purchase in 18 days.
- In 4th Quarter 2020, The average sales price for homes in Iredell County was up 18% over Q4 – 2019
- The number of active rentals in the Charlotte region has dropped by 50% since February 2020. Leased properties are down 23%. (Renters are buying homes!)
- In Iredell County single family rentals have dropped by 73%
- Negotiating skills are paramount. Twelve months ago proper marketing played a pivotal roll in how quickly, and in some cases, how much a home sold for. Today, any real estate agent can list a home and likely expect multiple offers in a very short period of time. Given our current environment, “Marketing a home” isn’t quite as important. The buyers are already lined up. NEGOTIATION is EVERYTHING. Make sure your Realtor is a solid negotiator. Remember, the highest offer isn’t necessarily the best offer.
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Question is “Holy Crap, You must be busy?”
It’s no secret that we’re in bit of a SELLERS market and many folks are no longer wondering what their house is worth. They’re wondering “What can I GET for my house?” Truth is…There has NEVER been a better time to take advantage of your investment and cash in on your equity. On the other hand, there’s never been a worse time to buy!
Here’s what housing looks like in Mooresville currently:
- In February 2020, 465 homes were for sale in Mooresville. In February 2021, only 121 homes. That’s a 74% drop in only 12 months. (Demand is high to say the least)
- 12 months ago, the median sales price for a home in Mooresville was $310,000. Today the Median Sales price is $350,000
- Closings are up 20% compared to this time in 2020
- 1 year ago Home inventory supply was 10 weeks. Currently Home inventory supply is 18 days. This means that if no other homes come to market there will be no homes to purchase in 18 days.
- In 4th Quarter 2020, The average sales price for homes in Iredell County was up 18% over Q4 – 2019
- The number of active rentals in the Charlotte region has dropped by 50% since February 2020. Leased properties are down 23%. (Renters are buying homes!)
- In Iredell County single family rentals have dropped by 73%
- Negotiating skills are paramount. Twelve months ago proper marketing played a pivotal roll in how quickly, and in some cases, how much a home sold for. Today, any real estate agent can list a home and likely expect multiple offers in a very short period of time. Given our current environment, “Marketing a home” isn’t quite as important. The buyers are already lined up. NEGOTIATION is EVERYTHING. Make sure your Realtor is a solid negotiator. Remember, the highest offer isn’t necessarily the best offer.
