Hello and welcome. This is Nolan with Discover NC Homes and Nolan’s News and St. James, this newsletter is for you! To no surprise, we are now in a sellers market in St. James. I’ve been in the industry 16 years and I have never seen so little amount of inventory out there. It’s just crazy right now.
So I finally pulled some numbers. I compared 2019, 2020, to our current status in 2021. I just did a snapshot of January. And please listen, because this is what I found: in January, 2019 – homes, condos and town homes – there was 79 listed on the market. In 2020 we jumped that to 99 and this year, 2021, we are down to 41. We are half the capacity that we usually run at for homes, condos, and town homes on the market.
Same thing with land: in 2019, there were 160 homesites sites on the market. In 2020: 128. And in 2021 as of today, there were only 65 active home sites on the market. So again, exactly, half of what we’re used to working with.
I’ve talked to some folks in the industry and especially in the St. James marketplace, who’ve been part of the market for 20 – 25 years. We have never seen inventory this low before. So this is an anomaly, it is a sellers market.
What does that mean? It means from now to the end of this year, it is the time to sell and get the absolute highest value you can for your home or your piece of land or your condo or your town home.
So please consider it. Also just a little pet peeve of mine. If I said it in this video, I hate using the word “inventory”. This is your home, this is your safe haven. So we really try and create that here at Discover NC Homes. So if you catch me from time to time using the word “inventory”, I’m sorry, but this is your home, this is the place you’ve built, you’ve put love into it. So we treat it that way, but ultimately, it’s time to sell. It’s truly a seller’s market, inventory has never been this low.
St. James, thank you and as always I appreciate you having me. If you have any questions, if you want to see these numbers in graph form, let me know.
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