Today’s real estate market has never been more competitive. There are limited properties to choose from, which means buyers have to be as strategic as possible when selecting a property that best suits their needs.
The Topsail, real estate market is no different. However, because it’s such a small and tight-knit community, the housing market fluctuates seasonally.
In this blog post, we’ll be exploring the Topsail Island real estate market so you can better understand what sort of properties are available and what you need to do if you want to buy one.
1. The Topsail Island Real Estate Market Is Competitive
The Topsail real estate market is quite fierce because it’s a small, tight-knit community with few properties available to purchase at any time. This means that the market is extremely competitive, and the average home will sit on the need for a few months before it’s sold.
2. Spring Is A Great Time To Buy
Although it’s possible to buy a home in any season, the real estate market in topsail is most competitive during the fall and spring seasons. This is because the weather is nice, and more people are looking to buy a home.
Summer and winter are slower seasons. During these times, people are more likely to be focused on other activities, such as going to the beach or spending time with friends and family.
This may provide you with an opportunity to buy a property without competing with as many other interested buyers.
However, keep in mind that the fall and spring seasons are extremely busy times for real estate agents. If you’re looking to buy in these seasons, it may take longer for you to find the right property and close on the deal.
3. Most Houses Available Are Condos or Single-family Vacation Homes
As you put in the legwork and research looking for the right property to buy in Topsail, you’ll find that the majority of properties for sale in topsail are either condos or single-family vacation homes.
Note that you’ll need to be strategic in your choice because there are only a few available.
Even if you do manage to find a residential property listed in the topsail real estate market, the listing will likely have a long time frame and very few people looking at it. This makes it hard to find the right property in Topsail.
4. Homes In Topsail Are Currently In High Demand
The high demand for homes in topSail is also likely due to the lack of inventory. The market is so competitive that homes are often purchased within a few days of being listed. This means that homes often go under contract before they even make it onto the MLS, meaning that they’ll never be available to the public.
5. Prices Have Continued To Rise Over The Past Year
Over the past year, the price of homes in topsail has continued to rise. In fact, the average home price has increased by about 4% since last year. This may be due to the fact that the supply of homes available on the market has decreased over the past year.
As previously mentioned, there aren’t many properties for sale in topsail, and more people are looking to buy. As the housing market continues to grow, more buyers will enter the market, which could lead to even more properties being purchased, and the price of homes will likely rise.
In Conclusion
The Topsail real estate market is no different from any other real estate market. It has its own set of challenges and quirks, as well as its own set of opportunities that buyers can take advantage of.
So, if you’ve been thinking about buying a property in Topsail, make sure you’re prepared for a highly competitive real estate market. The small number of properties for sale makes it a very difficult process, so be sure you’re ready for it.