The Charlotte real estate market is humming along quite nicely. Sales are up, homes are selling quicker, and inventory is down.
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We have a short update to share with you today on the current state of the Charlotte real estate market. We looked at the metro area numbers over the last four months, which is essentially the entire summer.
When we looked at this summer’s numbers compared to last year’s, we saw that the number of sales were up by 3%. This is good, but what was even more interesting is the fact that this number was much higher in certain price segments.
For example, for homes priced $250,000 to $1 million, sales were up 20%. Home sales in the $1 million to $2 million range jumped up by about 46%!
As for what we predict will happen for the rest of the year, we like to look at a few specific measures. The first is pending sales. Those are up 18% overall, and they are up 40% in the $250,000 to $1 million range. The inventory and average days on market are both down by 26% from last year. Also, the showings per listing is 28% higher than it was last summer.
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All indicators point to a strong 4th quarter.
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Really, all signs point to the fact that it’s going to be a strong fourth quarter. If you have any questions or are interested in buying or selling, give us a call or send us an email. We look forward to hearing from you.
