Charlotte NC Real Estate Report – April 2017

The vitality of Charlotte real estate depends on the health and vitality of several offshoots of the overall Charlotte economy. The good news — actually, the GREAT news — is that the Charlotte economy is at full steam, chugging along, and pulling everything behind it along for the ride.

Steam locomotive

The demand for Charlotte homes is unrelenting. The latest numbers on the Charlotte real estate market back up this assessment. As of 4-30-2017, the inventory of homes for sale dropped by 20.15% compared to last year. The number of days from list to close fell by 15% from April, 2016. The median sales price jumped by $4,000, or 11.9%, to $226,000. Little surprise that the percent of original price received was 97.2%, an increase of .9% from 2016 — which was also a phenomenal growth year!

Factor in the drop of the days of list to close by 15% to 96 days, and the rise in pending sales, that is, the deals that have been agreed upon but not yet closed, by 8.1%, and there’s no doubt the Charlotte real estate market is rolling along.

This all adds up to a tricky market, one where the seller has many advantages. But this means that a Charlotte home is not only a great investment, but a great place to live and work. The employment and wage growth numbers prove that’s the case. Buyers can maximize their clout with the experience of an exclusive buyer’s agent who can help them negotiate the twists and turns ahead.

Charlotte NC Real Estate Report – March 2017

Winter’s over, and 2017 is off to a great start for Charlotte real estate. Spring flowers aren’t all that’s blooming, as the latest numbers show.

Spring FlowersConcerns about how the new administration would affect the overall economy have given way to optimism for the future, and the demand for Charlotte homes reflects that optimism. As of 3-31-2017, the number of closed sales grew 11.5%, or by 408 sales, from last year at this time. Our already shrinking inventory of homes for sale contracted by 20.3%, and the number of days from list to close dropped 14.8% from March, 2016. And once again, the best indicator of future sales, the number of pending sales that have yet to close, expanded by 16.2%.

As we would expect, the expanding demand has pushed up prices; the median sales price grew by $22,950, or 11.6%, to a new high of $220,950. Another significant indicator of growing demand, the percent of original list price received, showed a gain of 1.4% from last year to 96.9%.

With the overall economy steadily improving, including steady improvements in wages and consumer demand, and with renewed confidence of future real estate vitality, we can conclude that Spring, 2017 has arrived.

 

Charlotte NC Real Estate Report – February 2017

Valentine’s Day isn’t just for lovers, but for homes, too! And there’s a lot to love about the Charlotte real estate market.

Love Home

Some of the reasons buyers love their homes includes a healthy stock market, a rise in take-home wages, and a robust home sales environment. And with unemployment levels now at pre-recession levels, and optimism for the future economy high, we can expect this kind of love affair to grow.

The latest statistics on Charlotte homes not only echo the positive signs we’re seeing for a growing economy, but reveal how passionately buyers love their homes. As of 2-28-2017, the median sales price reached $199,000, an increase of $18,475, or 10.2%, compared to last February. The percent of original list price received notched up by 1.4% to 96.3%. Once again, the inventory of homes for sale has dropped, this time to 8,807, a decrease of 21.4% from February, 2016. That’s part of the reason we saw the number of days from listing to closing trim by 11.1% to 112 days. That’s a whirlwind romance!

With the economic indicators strongly suggesting continued growth, and with a solid history of local home sales to rely on, we can assume the future continue this trend. The current indicators back this conclusion. While closed sales for February increasing by a slender 0.5%, the number of pending sales rose by 18.4% to 4,229, assuring more closings for the foreseeable future. Love is in the air, and it looks like it’s here to stay.