Sunday, April 12, 2026

MORE THOUGHTS ON OUR CURRENT MARKET

It was a slow change at first, but our Sun City Carolina Lakes market continued to change from fall into winter. The combination of more homes coming on the market and less buyers led to many homes sitting on the market for longer than we've been used to. And with that, some owners who, perhaps, were feeling the pressure of needing to make a move quickly, began reducing the price on their homes. It was a trend that began to gain momentum as more owners began to feel the pressure of decreasing prices. In my April 5th posting, called SCCL Price Reductions, I noted that, as of that date, there were 103 price reductions since the first of the year. Did all of those price reductions lead to the record-breaking number of homes that went under contract in March? Or would those same buyers have purchased if prices hadn't come down? Of course, it's hard to know the answer to that, but perhaps it's time to think about what needs to be done to stop the downward spiral in order to discourage prospective buyers from expecting even further reductions. 

The situation now is the reverse of the post-pandemic frenzy that led to the higher than normal prices at that time.  That upward spiral was fueled by low inventory, low mortgage rates, and unprecedented increase in demand. So, perhaps its time to recognize that the market is back to where it would've been in a normal market.  

 
 
AVERAGE DAYS ON MARKET 
 
Single Family Homes

 
Carriage Homes and Villas


I know it's hard to know what to do when your house has been on the market for months without an offer.  But, as I mentioned in my SCCL Price Reductions  posting, it's important for Sellers to understand the current market and price their homes appropriately.  Owners need to declutter, paint, if needed, make their home look great inside and outside, and consider offering some concessions to buyers to make their property stand out in the crowd.  
 
The first question I usually get asked is "Why are there so many homes on the market?" In my opinion, original owners who were in their sixties when they purchased nineteen years ago are now in their eighties.  Many of those residents are no longer willing or able to take care of their homes and are choosing to move closer to family or into Continuing Care Retirement Communities (CCRCs) that offer independent living, assisted living and skilled nursing care.  Life changes.  Be prepared and make plans before circumstances require you to make decisions hastily.  Consider your options and understand that sound decisions can only be made with accurate and reliable information.   If you haven't had a chance to read the postings listed below, please be sure to do so.  It's in your best interest to be well-informed.
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