Closed sales for Wake County through April 2011 are down 16.6% compared to the same period last year. The good news is that there are 22.8% fewer new listings for the year. The bad news is really unknown: How many people are sitting on the sidelines waiting for the market to turn around before they sell?
Wake County includes Raleigh, Cary, Wake Forest, and 12 other towns in the surrounding area. Here’s what Wake County real estate looks like so far this year:
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Linda and I are fielding a lot of phone calls from potential sellers curious to know if the market is improving. The answer I want to give you is yes AND no. The only way I can really answer that question is to ask “What kind of seller are you?”
A lot of sellers tell me they aren’t in a hurry to sell. Others are in need of moving quickly due to some sort of distressed. Then there is a 3rd kind of seller, one that is willing to part with their home accepting whatever the market will give them regardless because they just want to move.
What kind of seller are you?