Real Estate Market Report - July 2015

The real estate market in the NC Triangle area is Hot Hot Hot! Everyone says so, right? Homes are selling quickly and if you watch the report below, you'll hear details directly from the folks at the Triangle Multiple Listing Service.


What's my take away? "Don't be a failed listing!"

Homes are selling faster than they have in a long time in the Triangle area, and for more money as well. The number of available homes is slim and buyers are struggling to have choices. This doesn't mean that ALL the homes sell. An unfortunate statistic is that the number of Expired and Withdrawn listings is also way up significantly. These are homes that were listed for sale and never sold.

There are only a few things that a Seller can control when listing their home for sale: Price, Presentation and Promotion.

There are Sellers and Agents who believe that putting a home with a few pictures in the MLS is all that's needed. Sometimes that succeeds, but not always, which is why most Sellers still chose to use a full service listing agent versus For Sale By Owner or Entry Only Listing services.

Pricing: a well priced home will sell, many say. I say, without correct presentation, the Seller can still fail even with the correct price. That's where staging makes all the difference! A Buyer must be able to see the features and value a home offers before they are able to justify your price. A home sells when a Buyer sees the greatest value for the lowest price. That is when they make offers. Finally, promotion, or marketing a home to the largest number of potential Buyers will get a home sold.

Don't make the mistake of skipping the important step of PRESENTATION! Without all three components correct, Price, Presentation and Promotion, a Seller risks the opportunity to get their home under contract for the best price, and in the shortest amount of time.