This week our listings saw an average of 2.1 showings each. It was the first full week back to work for most of us in 2008 and was a great start to the year. Although, the media continues to report a slowing housing market, our office and our peer Realtors are not reporting the same. In the past week, I had two listings receive multiple offers in their first few days on the market and both are now under contract. The pattern on both was that they were priced aggressively. I believe that 2008 will be an improved year for real estate sales in Charlotte, but as was the case last week I think that competitive pricing will be key.
The phone was ringing off the hook in our office last week and we’ve received more buyer leads in seven days than in the entire months of November & December. Based on my conversations with other Realtors at multiple events this week, I think that pattern has been consistent among all of us. Again, this is good news for sellers because it means that buyers are beginning to get back in the game. We should begin to see improved showing traffic in the coming weeks. Keep in mind that these buyers know the real estate market has changed. They are somewhat skeptical about buying right now because of the media stories being reported. It will take the right property at the right price to pull them off the fence.
Next week we’ll be reporting the Mecklenburg stats for December and I expect them to show a decling pattern. However, that is based on the data “tail” discussed in my previous blogs. I believe that we have hit the bottom in Charlotte and that we are slowly going to start heading in a better direction. So, hang in there and be sure to think positive about great results for 2008!