Charlotte Market Snapshot

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.

Charlotte Real Estate Market Update

Looking to buy in Charlotte?  Get a full home search

 Looking to sell in Charlotte? Get a free Home Price Evaluation

Today, we’re here with a quick market update. Charlotte remains in a definite seller’s market. 2015 was a great year for sellers, but this year is even better!

Right now, there are only three months of inventory on the market, which is near record lows. Overall, the real estate market in Charlotte is great, but the Southern part of Charlotte is in an incredibly hot market. Homes are still selling all over Charlotte, but in Ballantyne and surrounding areas, properties are flying off the market.

While the market does favor sellers right now, the good news for buyers is interest rates are still historically low and hovering around 4%. It’s a great time to buy a home, and these low rates make selling a home more competitive. Multiple offer situations will drive the price of some homes up. 

The likelihood of winding up in a bidding war does depend on the price point you are looking in. There’s less inventory in lower-priced homes, creating more demand. On the high end of the market, properties listed over $1 million are still moving very quickly despite the higher inventory levels. 

What does this mean for buyers and sellers overall? As we said, it’s a great time to sell. Rates are low, there isn’t much inventory available, and prices are even going up. In fact, you can probably stretch the price of your property a little and earn more for your home than what the market dictates. 

Buyers need to see new listings as soon as they get on the market. We have a Home Hunter system that will take everything you want in a home and search through the 20,000 properties for sale to find you the right match. Our system lets you know the minute these properties come on the market so you can get a showing right away. You get the information as fast as the Realtors do, and it’s free!

If you have any questions about today's video or about real estate in general, give us a call or send us an email. We look forward to hearing from you!