Is it Time to Sell Your NC Farm or Ranch?
Since the real estate market took a nosedive in late 2007, many NC land and farm owners have decided to wait out the market fluctuations before deciding to sell. According to recent data from the National Association of Realtors, now may be the time.
On average, new home and land listings are down year over year, which translates into less inventory on the market. With interest rates still low and consumer confidence beginning to rebound, you will likely get more now for your land and farm than in the past several years.
Sales data from two of the most popular-to-live-in counties in NC, Orange County and Wake County, seems to be stabilizing, and in the case of Wake County, actually improving.
While Orange County continued to see a decline in both the number of closed real estate sales and the percent of original list price received by the seller, these declines aren’t as sharp year over year, as they have been, with the number of closed sales for Orange County at -.2% and percent of original list price received at -1.5%, year over year.
Wake County saw only a .1% decline in the percent of original list price received at sale and on the positive side, saw a 19.8% increase in the number of closed sales.
So, if you have been on the fence as to whether to sell your land and farm, it may be a time to start considering it more seriously. Contact a local real estate broker for more specific information on land and farm sales in your specific region of NC.
Even if you decide that now is not quite the time to post your farm, ranch, or land listing, you should start to prepare so that when the time comes, you will be ready. Some things that you can do now that will pay off in spades when you are ready to sell your land and farm are:
- Tidy Up – Depending on the size and condition of your land and farm, this may take time. Mend fences, clean up brush, consider landscaping improvements, and put a fresh coat of paint on outbuildings. This will help you to increase the perceived value of both your land and farm.
- Contact a real estate marketing agency and have them help you start to strategize on how your land and farm should be presented.
- Consider hiring a professional real estate photographer and videographer to stage and photograph your property. These photos/videos will come in handy when you are ready to sell.
If you do decide that now is the time to advertise your ranch, farm, or land listing, check out some of the other articles here for tips and information on the selling process, or contact us today for a free, no-obligation real estate marketing consultation.
For buyers and sellers looking for North Carolina ranch and farm land for sale or other developmental properties for sale, our website offers an interactive, private portal to explore exclusive listings in their specific area of interest. Visit us at www.legacyfarmsandranchesnc.com or call 919-844-9492.
© 2011 Legacy Farms and Ranches of North Carolina, LLC