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Inventory Levels Hit New Low in Raleigh/Wake County, North Carolina

The delta between homes listed and homes sold grew last week heading into the holiday season. Traditionally a slow time of year for listings, the holiday season has also historically seen a seasonal bump in sales. That should make for a strange early 2021 market.

Covid and elections are making buyers anxious, and sellers cautious.

I was in Grand Rapids, MI this weekend, they are seeing an influx of out of state buyers testing the theory everything is for sale. We have seen this in Las Vegas, Raleigh and Grand Rapids in the last month, buyers coming from more expensive markets creating some huge sales. Great for clients, but where does that leave local buyers?

This is also the week we see the impact of the Trump tax bill and SALT deduction on election results. Capping the SALT deduction created tax increases in historically high tax blue states (See New York, California, New Jersey) and stimulated voters to move to red states with historically low taxes? (See Texas, Florida, North Carolina).

Wake County homes listed last week: 392 a net -90 new homes on the market. 

Wake County homes going under contract last week: 482 27 existing and new construction sales over $750,000.00 last week vs 33 new $750,000+ listings. Best time of year to sell your home? Now. There is no inventory we can curate a very quick, very agreeable sale. In the past a local agent would tell you spring based on tradition and incoming relocation buyers, but that market has changed. Control your sale, our sellers are enjoying a clean, safe, certain and stress free experience. Interested in very creative listing strategies? We have them. 

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