During the last few months I have spoken with over a hundred homeowners in Cherokee County who have tried unsuccessfully to sell their homes. Those whom I asked why their homes didn’t sell invariably blamed the “bad” market.

A case can be made that the market in Cherokee is “bad.” Sales of listed homes in 2007 were 22.3% below last year’s volume (3,431 vs. 4,416). There are currently 3,179 active house listings on the First Multiple Listing Service (FMLS). This statistic translates to a 11-month inventory. In other words, it would, statistically speaking, take 11 months to sell off the current listing inventory, if no more homes went on the market during this period. Well, you know that is not going to happen.

Putting these numbers in perspective, I would suggest that what we are seeing is a deflation not so much in sales as in expectations. Compared to what is going on in other parts of the country, Cherokee County is faring quite well, thanks largely to its continuing growth in population. While prices are not moving up (with a few exceptions), they are not dropping precipitately either.

So what lies ahead? The market will obviously remain competitive for sellers, and whether sales go up or down, those homeowners who adapt their expectations and strategies to the changing market will be successful in selling their homes.

If you are planning to sell your Cherokee County home this year, read my FREE report entitled “Strategies for Selling Your Home in 2008.”

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