Home Inventory is trending downward across the nation, and Charlotte is no different. If you are thinking about selling your home, the time to put your home on the market might just be now! Take advantage of less competition and attract buyers with strategic pricing that will get your home sold fast!
2018 Inventory Trends Across the United States
Don’t assume, though, that low inventory means an easy sell…pricing and marketing your home correctly is critical in getting attention and traffic from buyers.
There are 3 pricing strategies sellers can choose from in a low inventory market:
Market Value: Price your home according to comparable properties that have sold or are under contract in your neighborhood. This is quick, simple, and easy to justify to potential buyers, but may not account for your home’s unique qualities.
Stand Out: Price your home below market value to attract attention and stand out from others currently on the market. This strategy can generate interest and possibly multiple offers or a bidding war, which might lead to a faster sale, potentially for more than your asking price. However, if this doesn’t occur, you may need to be ok with selling for less.
Mark Downs: Like in a retail store, start by pricing your home at its highest possible price. If your home doesn’t sell quickly, reduce the price to give buyers a “discount.” You may need to be willing to offer several discounts to get your home sold. This approach could result in your home taking longer to sell, resulting extra mortgage payments until it sells. *Note: Charlotte is currently one of the top states for price reductions among the 45 hottest real estate markets in the nation.
Marketing your home with attractive professional photographs and descriptions that tell your home’s story and help potential buyers visualize living in your home will play a critical role in selling your home. Staging and video are extras that can enhance this as well. Preparing your home for marketing by making repairs, freshening paint, replacing worn finishes, and removing clutter can increase buyers’ willingness to pay a little more, rather than attempt to negotiate your price down for obvious needed repairs and poor condition.
In case you’re on the fence about needing to make a few repairs before selling, in a recent survey I conducted on social media, 64% of people surveyed would prefer to pay more for their home if it were move in ready with no “projects” required.
If you’re thinking about selling your home and would like to capitalize on today’s low inventory market, contact me today and let’s work together to create a pricing and marketing strategy that you are comfortable with and that will be effective in getting your home sold quickly!
Call me today! 704-792-8768