Welcome back to the blog! The Christy Allen Team hopes that you are doing well and staying dry from all of the rain that we have had recently. The team hopes that you enjoyed our last blog, and if you haven’t read it yet, then what are you doing here? Go read last week’s blog, 10 Most Important Things to Know Before Moving to North Carolina, I promise it will not disappoint! In fact, I’ll wait for you to go read it, so you won’t miss the great blog for this week!
Did you read it? Good! Now that we have gotten that out of the way, let’s get into this week’s blog that I know you are chomping at the bit to hear! Iredell County’s housing market has changed quite a bit since last year. How may you ask? Well, let’s dive into it!
It is currently a seller’s market, which means that there are more people looking to buy than there are homes on the market. So, if you are looking to sell a home now is your time! Homes are flying off the market, which also means that if you are shopping and find the perfect home, do NOT wait too long to make decision!
Increased Median Sale Price
With the increased demand for homes in a seller’s market, home prices are rising. In fact, Iredell County’s median home price is a little over $300,000, which is an increase of around 16% since last year! To do the math, that means that on average homes in Iredell County are selling for around $130 per square foot, which is around a 12% increase since last year. What does this mean? It means the housing market is BOOMING! Iredell County showed a larger increase in median home prices than the United States’ housing market as whole, which grew a total of 14.3% since the beginning of 2020. Iredell County is in DEMAND people!
Median List Price v. Median Sold Price
With all of that being said, homes are essentially selling for at, or near, listing price because buyers have a little less purchasing power. Essentially, if you don’t buy the home, someone else will. In fact, currently houses are usually on the market for only about 60 days! So, sellers and buyers have been coming to quick agreements. Less bidding wars ensure that the buyer gets the home they want, and the seller gets their money, all within a short amount of time. This was not the case this time last year. Homes were usually selling for lower that list price because the demand wasn’t as strong.
Homes For Sale/Rent
I bet you are asking yourself, “How many homes are for sale, or rent, in Iredell County anyway?” Well, I have the good news! There are over 1,000 homes for sale and over 100 homes to rent in Iredell County! Not too shabby, Iredell, not too shabby. So, there are plenty of options available to you if you are looking to buy/rent a home, and sellers, the more the merrier in this housing market!
So, are you excited? You should be! Don’t let any of this information scare you, use it to your advantage! Sellers, your time is now! Buyers, find the home of your dreams and put that offer in before the competition can! The Christy Allen Team will work diligently to help you buy, or sell, a home no matter what the market looks like. So, give us a call today! Oh, and buyers, may the force be with you. Thanks for reading, and we’ll see you next time!