Real Estate Home Selling Market Report: Is Now the Time to Make Your Move?
The real estate home selling market can be very unpredictable, especially in today’s climate. As interest rates rise and fall, home inventory fluctuates, and buyer demands change. It can be challenging to understand when it is the right time to list your home or purchase one. This blog post will cover the current state of the home-selling market, how fast homes are selling, and whether now is the right time to make your move.
How fast will my home sell?
The real estate home selling market is incredibly competitive, with homes flying off the market in record time. According to the National Association of Realtors, homes sell within an average of 17 days of being listed, the fastest rate in over a decade. This rapid pace is due to a shortage of available homes for sale. Even with the increase in interest rates, Carteret County is still attracting a large pool of buyers. If you’re considering selling your home, now may be the perfect time to capitalize on the high demand and fetch a great price. Check out how fast our homes are selling and preview our days on the market in April 2023 Real Estate Market Report.
Where do I start if I am a first-time buyer?
While the selling market is booming, it’s important to note that the buying market is equally competitive. With interest rates hovering around 6%, many first-time buyers and investors want to enter the market to take advantage of reasonable rates. The average interest rate since 1971 is 7.75%. As a buyer, you must act quickly and understand what you want in a home. Knowing your budget, location preferences, and ideal home features will help you make a quick and well-informed decision before someone else swoops in and snags your dream home. Connect with a local lender.
When is the best time to sell my home?
In summary, the real estate home-selling market is very competitive, with homes selling rapidly. Despite the intensified competition, now is a great time to consider listing your home or purchasing a new one. With reasonable interest rates and a shortage of available homes for sale, many buyers are eager to move now. The summer months are an ideal time to sell your home, and it’s essential to grasp local real estate trends and market price points. Work with a reputable Bluewater Real Estate agent who can guide you. You can make your next real estate home sale with careful planning and some luck. We serve Carteret, Craven, and Onslow Counties and can make your home sale successful.
If you have any questions about our market report, please reach out! We’d be happy to get them answered!
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source: National Association of Realtors