It's been a Buyer's Market for well over 10 years, but now the market is turning in the direction of a Sellers Market.
This is great news if you are one of those people who are considering selling your home. Buyers may have more to choose from but they can expect to be paying top dollar as the market fully turns.
He indicated that homes are flying off the shelf (in many areas on the island, not all) and at prices close to what homes were valued at in early 2007!
So, for those that are selling high, the ability to buy low still exists in pockets up and down the east coast.
Brunswick County's inventory of homes for sale is finally starting to shrink to some degree. Gone (mostly) are the scads of discarded homesites given back to the banks by the truckload in the 2009 - 2014 period and foreclosure homes are nearly just a historical footnote.
I was in Miami a few weeks ago, and the Sunday Miami Herald's lead story was about how the rocketing prices for housing are turning away people looking for good jobs because they cannot find rentals nor afford entry to mid-level affordable homes. While that may be good news for sellers, you still need buyers.
Brunswick County will switch over to a Seller's Market by June of 2018, if not sooner. We are still one of the top destinations in the country for retirees and when the economy heats up, so does our market.
When the switch happens, it still might not be countywide as several areas were affected more negatively than others with our 2008 downturn. The good news is that even in those pockets inventory is leaner today than just one year ago! But we have seen multiple offers on select well-priced inventory over the past 30 days, so market changes are in the air!
We have some advice for those of you who are in or entering into a Seller's Market.
Sell sooner rather than later so you can take advantage of good inventory, low prices and still historically low interest rates in Coastal North Carolina.
Sell High - Buy Low!