How has the market changed so far in 2017?
With sales volume up and inventory down, it’s a great time to be a seller in Carteret County. Statistics show that our market has less available property and that homes and condos are selling more quickly than last year. For example, a real estate market’s ‘months of supply’ is the measure of how many months it would take for its current inventory of homes on the market to sell, given the current pace of home sales. In Carteret County, that rate has fallen from 11.4 months to sell accumulated inventory in 2016 to just 8.7 months for this year. Furthermore, year to date home sales values totaled $332 million through the end of the third quarter last year compared to $417 million for the same time frame this year – more than a 25 percent increase.* All of these measures are indicators that 2017 will continue to be a strong year for Carteret County.
*Data is from Carteret County Multiple Listing Service (MLS) comparing the first three quarters of 2016 (January 1 through October 1) to the same time frame in 2017.
What is the biggest misconception about the real estate market on the Crystal Coast?
The biggest misconception is sellers believing that they should wait until the summer to list their house. Like all real estate markets, ours has cycles of busier times and slower times, but the biggest miscalculation is that our market is seasonal and that summertime is our selling season. What makes summer a busy time is that it brings buyers but it also brings lookers, who may or may not make a purchase. With fewer lookers, our fall, spring and winter markets bring dedicated buyers who are prepared for an immediate purchase.
Looking forward to 2018, when is the best time for sellers to list?
Surprisingly, December and January have been some of our busiest months the past couple of years, which indicates that locally there is no bad time to put a home on the market. The most important thing to understand is that each property is different and requires a unique marketing plan and strategy to maximize return. Lead time to work with your agent and prepare is crucial. I would advise owners who are considering selling in 2018 to go ahead and open a dialogue with their broker now!
MCKRE sells more real estate than anyone else in your area. To what do you attribute your success?
Our success is 100 percent about people - both our team members and our clients. Our team is comprised of dedicated, compassionate folks who are committed to our clients’ experience and to helping them reach their goals. Each member of MCKRE specializes in their role, bringing a real focus that makes us different. Then there are our clients - they are simply the best. We’ve grown largely due to word of mouth, with one family telling another and another about their experience. Each of us at MCKRE feels lucky to come to work knowing what a difference we can make for our clients and how much they appreciate our results.