If you’ve been thinking of selling your Outer Banks property in 2019, this message is for you.
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If you’ve thought about selling your Outer Banks home in 2019, there are a few things you need to understand about our market before making that decision. Over the last 12 months, interest rates and inventory have both been on the rise. This tends to cause the market to slow down.
In our Outer Banks market, where many of the properties are second homes, the decision to sell comes down to supply and demand. And judging from the 12% increase in supply and the 4% decrease in closed sales we observed in July, it’s clear that the local demand for homes has become somewhat stagnant.
You'll need to be more strategic about your approach if you do decide to make a move.
This doesn’t mean that there are no opportunities for sellers this year, however. It simply means that you’ll need to be more strategic about your approach if you do decide to make a move. To learn more about whether selling in 2019 is right for you, please reach out to me. I would love to discuss your options.
As always, if you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
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