Warm Up To Home Selling This Winter
This might come as a surprise, but the winter season can be a smart time for listing your home for sale, especially here in the Charlotte area. Thinking about putting your home on the market this upcoming spring? Why wait! Here are a few reasons to warm up to listing your home this winter season.
It’s a Seller’s Market
The greater Charlotte real estate market has been in a seller’s market for well over two years now. Our area is experiencing rapid growth that is outpacing the availability of homes. According to the most recent data from the Charlotte Regional Realtor Association/Canopy MLS, the inventory of homes for sale fell a whopping 40.3% year-over-year in December 2021. What’s more, the average sales price increased by 17.1% to $410,119 in December 2021 compared to December 2020.
Less inventory and more buyer demand means you can command a higher price for your property.
Buyers feel a sense of urgency to secure mortgages before higher interest rates price them out.
The start of the new year has seen an uptick in mortgage interest rates. In fact, mortgage rates hit their highest levels in mid-January since March 2020. As a result, home buying mortgage applications increased 8% during this same time period. The Federal Reserve is expected to have 3-4 interest rate hikes this year with the first one occurring in March. If January’s spike in mortgage applications is any indication, we can expect more buyers to act sooner rather than later in 2022. With little homes for sale, your home will stand out to these motivated buyers!
New Year’s Resolutions Help Many Home Buyers Get Into the House-Hunting Mode
The new year is time for a fresh start. After weeks of holiday festivities including decorating, entertaining, and merriment, people are ready to declutter and get their homes back in order. For some, it’s a time to reevaluate their living space. After hosting out-of-town guests, some homeowners may realize they want more space; others may want to downsize. Many buyers might also be eager to put their tax refunds toward a down payment or closing costs. Those resolving to save more money or first-time homebuyers might take that a step further by putting money aside for monthly mortgage payments.
It’s a High Time for Professional Relocations
Chalk it up to those resolutions and wanting a fresh start in the new year, but January and February are two of the biggest months for people moving to start new jobs. It is also a busy time for corporate relocations. These buyers typically have a limited amount of time to look at properties and decide; they need to select a property that meets most of their needs and don’t have the luxury of being overly picky.
(And if you’re in need of relocation services, I can help! I am proud to work with Helen Adams’ relocation department and have listed with sellers relocating out of the area and buyers relocating to Charlotte!)
Wintertime Staging Helps Houses Feel More Like Homes
One of the biggest goals when selling your house is to help buyers envision their life in the home. Nothing helps a house feel more like a home than creating a warm, comfortable, and cozy ambiance. Simple welcoming touches such as a pinecone wreath, natural greenery, and lanterns filled with twinkle lights on the front porch are incredibly inviting. Inside, create a warm atmosphere with LED candles and textural elements including blankets, pillows, and wall hangings (also a great replacement for personal family photos/art).
Take that feeling of “warmth” up a notch by lighting a fire in the hearth, turning on the gas logs, or lighting a candle. Even better, get into baking mode. The smell of a simple batch of chocolate chip cookies or fresh mulled cider radiating from the kitchen will make anyone feel like they’ve found their home.
Contact me today and let’s discuss how much leverage you have as a seller in today’s market. I look forward to partnering with you to get top dollar for your home in 2022!