The Best Time to Sell a House in North Carolina

by | Nov 19, 2021 | Selling

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The best time to sell a house in North Carolina depends on a variety of factors. These range from current market trends and the type of home you have, to your personal situation and financial position. Your real estate agent’s listing strategy can also play a role in how quickly your home sells, and for how much.  

If you are just starting to consider selling your home in North Carolina, or your timeline is flexible, it’s a great idea to do some research in order to get the price you deserve for your home. In this article we’re discussing the most important considerations for choosing the best time to sell your North Carolina home. 

Days on Market vs. Sale Price

The best time to sell a home can mean different things to different people. For some, a fast sale is most important. While for others, selling a home for the highest possible price takes priority over a quick transaction. 

This year, communities across North Carolina are experiencing a strong seller’s market and homes are selling incredibly fast. Market data shows the median number of days a home has spent on the active market is 5.1 as of October 2021.  The median sale price for homes in the Raleigh metro area was $365,000 in October of 2021. This is an increase of 21.7% just this year, demonstrating that home sellers who price their homes correctly, can have the best of both worlds, selling their home fast and for top dollar. 

Best Time to Sell a House in North Carolina: The Data

Nationally, May is considered the best month to sell a home. Typically, the process of closing on a home can take thirty to sixty days. Thus, listing earlier in spring to allow for a summer closing is ideal to ensure your home sells for top dollar. North Carolina follows this trend as most people do not want to move in the colder months. With that, many families prefer not to move during the school year. Thus, buyer demand increases in spring. However, each season offers its own unique pros and cons to selling. 

  • Spring: Home buyer demand peaks, but supply of active listings also increases. This means homeowners have more competition from other sellers. 
  • Summer: High competition between sellers continues. But, buyers hoping to move prior to school starting are motivated to make competitive offers and move quickly. 
  • Fall: The real estate market cools with the temperature in Fall months. However, with fewer active listings there is increased competition from the remaining buyers in the market for a home.  
  • Winter: Many consider winter the worst months to sell a home in North Carolina. Overall, this is the slowest time of the year for cold weather housing markets. There are fewer homes listed but, typically buyers searching in winter come qualified and are very serious about purchasing a home. 

Local market conditions can have a large effect on real estate trends and determine the best time to sell a home in North Carolina. For example, job growth in your area, tax incentives and mortgage rates can all play a role in the ideal timing of a home sale. 

Charlotte, North Carolina

  • Best month to sell: Homes sold 7 days faster than North Carolina’s average days on market, and for upwards of $15,000 more than the average sale price in the month of June. 
  • June 2021 median price: $338,000

Raleigh, North Carolina

  • Best month to sell: Homes sold in June for $16,000 more than the North Carolina’s average sale price. 
  • June 2021 median price: $382,000

Ashville, North Carolina

  • Best month to sell: Homes sold 5 days faster than North Carolina’s average days on market, and for $30,000 more than the average sale price in the month of July. 
  • July 2021 median price: $379,000

Greensboro, North Carolina

  • Best month to sell: Homes sold in April for $12,000 more than the North Carolina’s average sale price. 
  • April 2021 median price: $220,000

Consider This When Choosing the Best Time to Sell 

In a perfect world, you have plenty of time to research the best time to sell your home in North Carolina. You’d time the market around what works for you, and when you know your home will sell quickly for the most money. However, more often than not, life happens and you can only control so much when trying to time the market. 

Ultimately, selling your home is about you, so consider your personal situation, finances and timeline. With that, these are a few key factors to consider as you begin to prepare to sell your home. 

The Home’s Condition

It’s a good idea to start by assessing the condition of your home. It’s likely that there are a few updates and repairs needed throughout to ensure you are ready to list. Spend some time ensuring your home is in good condition for showings with potential buyers, as this can result in stronger offers. 

Along the way, be sure to keep track of what updates and renovations or repairs you do. Consider these updates when you work with a real estate agent to determine your home’s list price. With that, remember that not all improvements add the same value, or have the same return on investment. It’s helpful to research which home improvements add the most value, before you commit to a project. Or, consider speaking with an expert real estate agent in your area about updates buyers are looking for in your area. 

Real estate agents have the ability to view real estate transaction data for your local market. As a result, they have a good idea of what buyers are looking for, and qualified agents should be experts at marketing those features to get a top dollar offer for your home.

Finances

Home values have increased dramatically, making now one of the best times to sell a home in North Carolina. This means the equity in your home has increased, and could provide you with a healthy downpayment on your next home. Trelora offers free home valuations to give you an estimate backed by expert agents and local data. 

Once you have an idea of your home’s value, it’s important to consider the cost that comes with selling your home. 92% of homeowners choose to sell their home with a real estate agent to make the process easier. Working with a traditional agent typically costs homeowners 6% of their home’s sale price. On a $400,000 home, that’s $24,000 of your hard earned equity you’re giving away. This, in addition to closing costs and moving expenses can add up quickly. 

Trelora is a modern real estate brokerage, our local agents have over 300 5-star reviews. Trelora allows homeowners to keep their equity by charging a low, flat fee of $4,000 to sell any home in North Carolina. On average, homeowners who sell with Trelora save $12,000. The money you save selling your home, can make buying your next home more accessible. 

Your Personal Situation 

While there is plenty of data available to determine the best time to sell a home in North Carolina, what ultimately matters most is making the best decision for you and your personal situation. 

People decide to move for a variety of reasons. Whether moving closer to family, outgrowing your current home, or relocating for a new job, each of these circumstances has unique challenges that can affect your timeline. Moving for a new job typically means a strict timeline and possibly enlisting the help of a relocation realtor. While moving for family related reasons often allows for a more relaxed timeline. 

No matter the circumstances of your move, consult an expert agent to get a better understanding of the current local market, and how you can ensure your home sells successfully. 

Best Time to Sell a House in North Carolina: The Bottom Line

Ultimately, the best time to sell a home is when you’re ready. As you’re looking for the best time to sell your home in North Carolina, Trelora can help. 

When you work Trelora, you get a team of agents who have unparalleled market insight and close hundreds of transactions each year. You can sell your home with confidence knowing you’re getting  full service real estate for thousands less. 

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The information contained in this blog is for general information purposes only, and while believed to be accurate, Trelora assumes no legal responsibility for accuracy. Information provided within should not relied upon as legal advice. Please consult with your local advisors for independent information regarding availability and applicability in your market.