Located near the western tip of North Carolina, Highlands is one of the premier neighborhoods in the state of North Carolina. Set at an elevation of over 4,000 feet, this picturesque town is one of the highest locations east of the Mississippi River. Surrounded by one of the only temperate rainforests in the entirety of North America, Highlands offers some of the most scenic views, beautiful trails, and idyllic natural life throughout the whole state. A popular summer getaway town, Highlands is home to only a little over 3,000 residents, but in the summer months, as many as 18,000 people are housed in the small town. Known for the surrounding area’s alluring views and charming town, Highlands, NC, real estate is on the rise. If you’re considering selling a home in the Highlands area, read on to learn important strategies for getting the most out of your listing.
What are your needs?
Whenever you’re making a major life decision, it is always important to take the time to assess your personal situation, the decision you’re making, and what you want to get out of it. Take a moment to think about some of the details of selling a home; here are some questions you might want to ask yourself (or discuss with your spouse or investment partner): Do you need to sell as soon as possible? Or will you be financially comfortable waiting to find the ideal buyer rather than the fastest one? Do you need the money from this sale for another project or to buy a new home? If any, what deadlines do you have for selling the home?
Taking stock of your situation will help you move forward as you build a plan and develop a better idea of the distinction between what you need as opposed to what you want out of selling your home. Selling a home can alleviate a great deal of financial stress and grant you more financial freedom, so you’ll want to make the most out of your home by selling at the ideal time.
When is the best time to sell a home?
The real estate market is an incredibly complex entity, and developing a full understanding of its trends and predictions can require a great deal of work. When making a big decision like selling a home, it is always important to make sure you are knowledgeable about the situation before making any commitments. Always be sure to speak with professionals in the field and do your own research as you begin to enter the world of real estate. Failing to do so can end up costing you thousands of dollars—and a great deal of financial peace of mind.
That being said, there are some general trends that tend to hold true year after year. Being aware of these trends can help you get the most out of your property. It should not be too surprising that the best time of year to sell a home is in the warmer months of the spring or summer, and conversely, the worst time to sell a home is in the fall or winter. Homes sold in the warmer months tend to sell at a higher price relative to the market value of the property when compared to those homes which are sold in the colder months. Especially when it comes to Highlands houses for sale, listings are less likely to attract buyers and build a competitive market when potential buyers have to travel through the surrounding mountains in rain, snow, and sleet just to tour a home. Further, families with school-aged children will be more likely to move during the summer in order to ensure that their children can finish their school year before joining a new school.
Highlands is a unique little town, and as a local summer getaway favorite (keep in mind, there are nearly six times as many people there in the summer compared to the rest of the year), you will have the best opportunity to sell your home during this time of the year. With the massive increase in people during the warm months comes a great deal of visitors who are likely interested in buying a home there, whether it be as a permanent move or just as a vacation home.
Why wait to sell your home?
The benefits of timing your sale can end up making a big difference. Homes listed in the summer and spring end up selling faster than homes listed during the rest of the year and, as mentioned earlier, tend to sell at a higher price too. Because the population in Highlands swells so dramatically in the summer, the local economy may react more aggressively. Listing your home in the summer, you will naturally have a much larger pool of potential buyers, local advertising and marketing will be more effective, and as a small town with high demand and low supply for real estate, it is much more likely that a bidding war will open on your home during this time, further driving up the final sale price.
Again, it is imperative to stress how important it is for every potential seller to do their own research. Though data on the time of year and sale prices are abundant, the real estate market is much more complex than can possibly be reflected in a few points of data. Before making the decision to sell your home, make sure that it is the best decision for you and your family, and continue to pay attention to professionals in the local real estate market as you proceed with the process.
Ready to learn more about Highlands, NC, real estate?
If you’re ready to take the next step in buying or selling a home in Highlands, or you just want to learn more about the local real estate market in Highlands, consider reaching out to a realtor like Spencer Kirkpatrick. Spencer specializes in exceptional mountain living in the Western North Carolina area and looks forward to helping you with your home journey.
