A Bite of the Reality Sandwich: Why the Right Price Is in the Sold Data

Last week we told you about a buyer who found a house on a busy street, saw the value anyway, and made a fair offer. The seller passed.

Here's what happened next.

This week, the seller took the house off the market. Not because it sold. Because they decided to wait. The plan now is to rent it out and try again another time, hoping buyers come back to the prices they were paying a year or two ago.

Atlanta agent Glennda Baker described this moment perfectly: sellers "are having a hard time taking a bite of the reality sandwich."

We understand that seller. It's hard to let go of a number once you've heard it, especially when it's the best number your house ever had.

But here's the part of the story we didn't know last Friday.

Two New Homes Hit the Market

Our buyer is seeing both of them this weekend, and at first glance, they might be even better fits. Different streets, fresh listings, sellers who priced for today.

That's the quiet thing about a house that sits at the wrong price: the market doesn't wait with it. While one seller holds out, other homes come along, and the buyer who was ready to say yes finds somewhere else to say it.

It's a lesson that goes well beyond houses. The right person shows up, ready, at a fair number. If we hold out for a moment that's already passed, we can miss the one standing right in front of us.

So What Is the Right Price?

That's what our buyer kept asking, especially with headlines about price cuts everywhere. Our answer was the same every time: sold data. Not list prices, not headlines, not what a neighbor got in 2022. What homes actually sold for, in that exact location.

That last part matters more than people think. As we wrote last week, a busy street changes the math, and so does a corner lot, a cul-de-sac, or a block that backs up to a park. The sold numbers already know that. Asking prices don't always.

What We're Seeing

If the headlines feel confusing right now, there's a reason. National asking prices dipped about 3% from early August to October, and much of that is the normal fall slowdown. Over the past year, prices are up almost 7% in some cities and slightly down in others. Realtor.com currently rates Charlotte as "balanced, loosening": not a crash, not a frenzy.

In other words, the national number can't tell you what a house on your street is worth. Only your street can.

If you're buying, that's good news: you don't have to guess, and you don't have to let the headlines decide for you. If you're selling, the sold data is the clearest way to meet the buyer who's ready now, instead of waiting for one who may not come back.

Speaking of Opportunity: Land on Baltimore Ave

Everyone says there's no land left in South End. They haven't been down Baltimore Ave. We just listed four adjoining lots bordering Southside Park, available one at a time or together, and there's real money going into this corner of town: just down the street, Brookhill Village is getting $4.1 million for new roads, sidewalks, and more than 300 trees. For a builder or investor who's been watching South End, it's worth a look. See the details on the Baltimore Ave lots.

We'll let you know how this weekend goes. Our buyer has two new houses to see, a clear sense of what they're worth, and no reason to rush. That's a pretty good place to be. Whenever the timing is right for you, we'd love to help you get there too.

Make your best move,

Chris & Stacy