The seller forecast for 2023:
The last several years has been a great time to be a home seller, but things started changing in the middle of 2022. We went from multiple offers on every home hitting the market to many homes not selling. It may be that higher interest rates had an effect, but I would argue that it was more because the prices had reached a point where the buyers decided it was ridiculous.
There is also a sense that the market may slow down to the point where prices start dropping hard, like they did in 2010, and buyers want to wait to see if that happens. I doubt it will, because we have so much demand and so little supply that prices can't come down that much.
If you are thinking about selling, the best time is in the Spring, so now is the time to do the things you need to do to get ready. Give us a call, we'll be happy to help.
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Averages to sell a home in New Hanover County
in 2012: 137 days on market
in 2013: 121 days on market
in 2014: 116 days on market
in 2015: 96 days on market
in 2016: 81 days on market
in 2017: 69 days on market
in 2018: 65 days on market
in 2019: 54 days on market
In 2020: 51 days on market
In 2021: 26 days on market
In 2022: 21 days on market
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