Charlotte NC Real Estate Report – January 2017

Yes, Groundhog Day has come and gone, but you can’t help but think about groundhogs when reading the latest numbers on Charlotte real estate.

Not only is the Charlotte area enjoying the early spring the groundhog predicted, the January sales numbers give the impression home buyers think the spring market has already begun. And the story those numbers tell remind us of the Bill Murray classic movie “Groundhog Day,” when the hero woke up every morning only to repeat the same events as the day before. We can relate. Once again, we’re looking at shrinking inventory, rising home prices, and pent-up demand. But, also like that movie, there’s room for hope — and a happy ending.

As of 1-31-2017, the average sales price climbed once again, this time to $258,819, an increase of $28,793, or 12.5%. The percent of original list price received grew to 96%, an increase of 1.4% from 2016. No surprise that the inventory of homes for sale has dropped to 8,639, a decrease of 25%. As in every month of 2016, the number of days from list to close has narrowed, this month by 6.6% to only 114 days. And the number of pending sales, the best indicator of future closings, expanded by 20.6% to 3,643.

Is this a seller’s market? No doubt. Will home prices continue to rise? It’s hard to make any other conclusion, judging by the market’s behavior for the past few years. And with builders focusing on constructing new multi-family and higher-end homes, the inventory of mid-range homes will continue to be tight.

Lessons learned? Buying a Charlotte home is a smart investment, one with a record of increasing in value. But the most important lesson is that the smart buyers are getting the homes they want. And so can you! A competitive market makes it vital that you have an experienced advisor who can guide you in finding and bidding on your future home. As Exclusive Buyers Agents, we know the market, where to find the financing that best suits you, and how to negotiate a winning offer.

About jptuggle


My name is Julie Tuggle, broker/owner of Carolina Buyer's Agent in Charlotte, NC. After four years working for a traditional broker, I saw the need for a firm that would represent buyers best interests only on any home for sale in the Charlotte area, including For-Sale-By-Owner homes, so I opened Carolina Buyer's Agent in 1998. Carolina Buyer's Agent specializes in buyer representation only, giving buyers the negotiating advantage throughout the home purchase process. We're one of the only real estate firms in the Charlotte area that doesn't take listings or represent sellers, so you'll never have to worry about the risk of "dual or designated agency" - the conflict of interest that exists when your agent's company is also representing the best interests of the seller on the home you want to buy.

Visit our web site, www.carolinabuyersagent.com , for more information about working with an exclusive buyer agent when you're ready to start thinking about purchasing a home. From there, you can search for MLS-listed homes and for-sale-by-owner homes, too. We'll also explain the legal difference between a dual agent and an exclusive buyer's agent so you can make the right decision on one of the most important investments you'll ever own. Search for Charlotte real estate including for-sale-by-owner homes, and find Charlotte school and community information at http://carolinabuyersagent.com/ . I'm a non-smoker and my hobbies are tennis, gardening and of course, investing in real estate!