What The Crystal Coast Real Estate Market is Telling Us Right Now (with charts) and 4 Reasons February is a Sellers Market

Dated: 02/01/2019

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No matter what you are buying or selling, the principle of Supply and Demand governs the Value and the Price.  As we approach the Second Quarter of 2019, the dynamics of the Real Estate market are shifting.  Every market is different across the globe which is what makes real estate unique and local.

Let's take a look at the state of the real estate market at The Crystal Coast and the reasons February is indicative of a Sellers Market.

1) The Absorption Rate is plummeting.

Source: 2019 MLS and FBS. Prepared by Barefoot-Chandler & Associates on Friday, February 01, 2019.

Last year in February, the absorption rate was 7 months.  Currently, the absorption rate is 4.5 months.  So, what is the absorption rate and why should it matter to a Seller?  The absorption rate is the projected number of months it would take to sell all of the homes currently listed.  The lower the rate, the faster the sale, which indicates a Sellers Market.

2) The Number of Active Listings has decreased, significantly, since September.

Source: 2019 MLS and FBS. Prepared by Barefoot-Chandler & Associates on Friday, February 01, 2019.

The lower the number of homes for sale, the more power for Sellers.  Why would you list your home now rather than wait until the Market is prime in May?  Because you are going to have A LOT more competition when all the other sellers do the same thing you do and wait until May to list their home thinking that is the best time to list. Get ahead of the line, and sell your home faster.

3) Active Listing Prices remained stable in 2018 and are steadily increasing at approximately 8% higher than last year. 

Source: 2019 MLS and FBS. Prepared by Barefoot-Chandler & Associates on Friday, February 01, 2019.

New Listings Prices have jumped $40K higher on average since last month. And Sales Prices are slightly higher today than last year in February.

4) The Number of Days on Market has decreased 27% since last year.

Source: 2019 MLS and FBS. Prepared by Barefoot-Chandler & Associates on Friday, February 01, 2019.

There was an uptick in Days on Market following Hurricane Florence in September 2018. What is truly remarkable is the fact that our real estate market bounced back to pre-Florence conditions within 2 months of the incredible devastation.  That Alone, speaks in volumes about the resilience of The Crystal Coast.

Bottom Line.  Supply & Demand determine Value & Price.  February is a prime time to List and Sell your Home at The Crystal Coast.  Get an Instant Value Report with Comparables and No Obligation, here.

Barefoot-Chandler & Associates Real Estate is a privately owned boutique agency at The Crystal Coast.  We respect your privacy and do not spam or share your contact information with third parties.

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Jaime Barefoot & Shannon Wilson-Chandler

On a scale of 1 to 10, how important is it to you to have the FINEST experience when you buy or sell your Home? For Us, it’s a 10 tipping the scale. Considering your Home is the biggest investment ....

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