Home Real Estate A Snapshot of the 55+ Real Estate Market

A Snapshot of the 55+ Real Estate Market

A Snapshot of the 55+ Real Estate Market

by Reid Baxter / RE/MAX Executive The Baxter Team ~

In the first half of 2018, 75 homes sold in Sun City Carolina Lakes – exactly the same number of homes that sold in the first half of 2017. So, just looking at Sun City, the number of homes selling remains very consistent even amid increasing inventory and average days on the market.  In January, there were 74 homes on the market while currently there are 63. The average days on the market is 138; we hope to see that number decrease as the inventory supply decreases.

We have noticed that the buying process has changed over the last few years in the 55+ market.  For example, buyers are taking longer to explore all of their options and usually comparing communities, floorplans, and so on for at least a year before purchasing. Over 50% of the buyers looking for a 55+ home in our area expect to start unloading their moving truck right after closing.  As a result, homes that buyers consider “move-in ready” are selling quicker.

If you are considering selling your home in the next couple of years, we encourage you to begin thinking about neutralizing paint colors, installing hardwoods or replacing carpet, and adding landscaping. If you would like our input on what upgrades would bring you the best return on investment, please give us a call. We’d be happy to talk with you.

If you are a homeowner, we at The Baxter Team are committed to marketing the Charlotte metro area to prospective 55+ buyers as the wonderful retirement destination we who live here already know it to be. If you are considering purchasing a home in a 55+ community, please visit our office in the Carolina Commons shopping center (next to the Indian Land Harris Teeter) or browse our Charlotte Retirement Communities website. We look forward to meeting you.

Editors note: The aerial photo is of the SCCL softball field, pickle ball courts, horseshoe pits, and garden plots at Water’s Edge Park.