The word is out - we're in a seller's market! And lots of sellers understandably want to cash in. But one thing we're seeing in the data is a STEEP drop from the original sales price when a property doesn't sell relatively quickly.
As you can see, the average home sold in the first week went for OVER list price. Sold in the first month, the seller came about $10k off the original list price. But over 2 months, and the average drop was almost $40k!
As tempting as it might be to swing for the fences, it's important for sellers to understand that the longer their property sits, the less money they'll get (not to mention the extra holding costs).
We have this data available for 4 areas (AND will auto update every week):
- City of Charlotte
- South Charlotte
- Ballantyne area
- Lake Norman
- "In town" area (Uptown to SouthPark)
