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Home » Once in a Lifetime Seller’s Market for the Carolina’s

Once in a Lifetime Seller’s Market for the Carolina’s

August 11, 2021 by Karen Baker Leave a Comment

seller's market

The Carolina’s are still experiencing a seller’s market, much to the surprise of many locals as well as real estate professionals. The Carolina’s have notoriously been known for providing homebuyers with a buyer’s market, and thus the near immediate switch has left many buyers wondering if, and when, the market will shift. Now more than ever, choosing your buying and selling agent is crucial as the market is highly competitive. What is it that’s making the market so difficult for buyers?

To put it simply, supply and demand. While the market is projected to remain in favor of the sellers throughout the summer of 2021, many professionals have mentioned that the shift in market may even last for the next few years. A few key factors that have played vital roles in the market shift include the worldwide COVID-19 pandemic, home appreciation as well as low supply across the Carolina markets.

Related: What’s an Offer Review Date?

Another common question is simply why the supply of homes is so low and while there is no way to know the full answer there are a few things that seem to be making an impact in the market’s inventory. With the Pandemic many Americans have switched to remote work, been furloughed, laid off, etc. Because of this large shift in employment, it caused two things to happen:

  • remote workRemote Workers Relocated

With so many employees now working remote, many of which will be remote indefinitely, the opportunity to relocate without needing to find a new job has expanded exponentially. Employees who worked and lived in expensive cities, now can keep their salary, and move into an area that is more cost-effective without the fear of taking a pay cut. This caused many markets to see peaks of interest, especially in areas that are known for more affordable housing as the market of buyer’s grew exponentially.

  • Properties are Being Unlisted

If one thing is certain, it is the uncertainty that COVID brought. Due to this, many workers who were able to keep their current positions worried that their employment status may unexpectedly change, and thus, many homeowners/sellers who had either planned to sell, or had already listed their homes, chose to wait to sell which in turn, limited the current market availability.

Related: Most Popular Home Styles in the Carolina’s

Unfortunately, there are still a lot of unknowns when it comes to the future of the Real Estate world, which is why it is important to always try and stay up to date on current news and events in your surrounding areas so that when you’re ready to buy or sell, you have a trusted agent by your side and all of the information to have a successful sale or purchase, regardless of if the market remains, a seller’s market.

If you’re currently searching for a new home, are ready to sell your home and need a qualified seller’s agent, or if you have any questions regarding Carolina Real Estate, please feel free to contact our office at any time.

 

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“Life will lead you to where you belong. Five years ago life led me to meeting Karen Baker at an...
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“Life will lead you to where you belong. Five years ago life led me to meeting Karen Baker at an Open House. Our relationship continues as Karen and her husband Frank have been outstanding not only in helping my husband and I find the right retirement relocation home, but we have watched their commitment in helping many others find their homes. She and Frank treat every client as if they are the only ones that exist. They provide thorough research of areas and homes of interest and present you with the options. They are not your typical hard sell, must-buy-now realtors. They are here to help you find your next home?. You won’t go wrong with the Bakers!
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“The Bakers treated us like family during our whirlwind weekend of looking at houses. Prior to our on-site visit to Sunset Beach they created a portal and populated it with properties that met our ever-evolving criteria. By time we arrived we had a good feel for what we could afford and what was available that met our criteria. The Bakers, especially Karen, were able to make sense of what we thought we were looking for and eventually matched us with a house that we ended up purchasing — Karen called it the “This is it” house and she was right. We are loving our 2nd home and appreciate how painless Karen and Frank made the process. All the paperwork was done seamlessly and quickly and the closing went off without a hitch. The Bakers do not believe in the hard sell — they gave us the knowledge we needed and the guidance we needed to make our dream a reality.”
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Amy and I have bought and sold four properties in the past twelve years. Both of you are the best...
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Amy and I have bought and sold four properties in the past twelve years. Both of you are the best realtors we have ever dealt with. Amy and I both felt we could trust you to look out for our interest. The level of service you provided was outstanding, from taking the trash out, helping the buyer with inspecting the irrigation system, dealing with our tenants, always being there if we needed to ask a question, providing constant updates on the market and always keeping us informed on the sale of our house. I think your next venture should be training other realtors, because both of you have mastered the art of providing excellent service. I will be sure to recommend the Frank and Karen team to anybody looking for a trust worthy, knowledgeable and top performing realtor. It was a pleasure working with both of you.”
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