Recent Flip Listing Amid Coronavirus

[Jim Kittridge]

I know many people are concerned about the market and I wanted to share some listing stats from a flip we just listed and went under contract with a buyer.

Quick background: 

Since we got a great deal on the buy, we decided to push the envelope on this one and did higher end finishes to try to sell the house for $200k+ in a $160k neighborhood. 

Stats

• We listed it above what we thought we could get and got it.
• 7 DOM
• 1,763 views on Zillow
• 159 saves on Zillow
• 19 showings
• 4 offers to purchase
• All offers were pre-qualified
• Under contract at our asking price with a 3 week close
• Financing cost: $4k
• Our Net Profit: $89k

I still think our underlying fundamentals are strong in the Charlotte MSA. I'm still seeing a low supply and high demand for affordable housing ($150k-350k depending on the area).

What are you seeing in the market?