Charlotte Home Seller Tips: Direct Correlation of Days on the Market With List-to-Sales-Prices
This morning while reading J. Phillip Faranda’s post regarding a compelling reason to price your homes properly from the very beginning, I was anxious to pull our own data for the Charlotte real estate market to see how our sellers were faring. I routinely create market absorption trends for local communities but, his post spoke volumes regarding the list-to-sales price ratio as they directly relate to the days on the market for his area. Curious as to how Charlotte was faring with regards to longevity vs. quick sales, I began to pull Charlotte’s data. It was truly eye-opening for some of the individual neighborhoods in Charlotte.
Sellers, if you truly wish to sell your homes in a timeframe that will not only increase your list-to-sales price ratio but, also reduce your carry costs, this market data should demonstrate the effectiveness of pricing it correctly from the very beginning. With the increased supply of homes on the market, pricing has become more of a factor in selling Charlotte your home than location. With a smaller buyer pool, pricing is more critical than ever before.
If your home sits on the market over 120 days, you’re likely to average as much as 5% less than your already-reduced property! Here are
the stats for Charlotte proper, Mecklenburg County, single family homes only:
Here is a graph that I routinely use to show that over-pricing a home initially can have an impact, not only on the longevity on the market but, on the seller net.
If you need help pricing your home to sell it in a timely fashion, give me a call or email me today. I’d love to help you get your Charlotte home SOLD!
Leave a Reply