Paul Slaybaugh's recent featured post, prompted me to expand on the comment that I made on his blog. Often, the consumer is the last to know what is truly happening in their local market. During the past year, numerous Charlotte buyers, who were under the impression that because local newspapers were printing national statistics, this same data applied to our local market. This misinformation resulted in missed opportunities due to the fact that the buyers were convinced that they were going to be able to purchase property for up to 50% off of list price. The 50% off price purchase was never an option in our market but, buyers were fearful that they would not get the 'deal' that they had heard that they would.
The moral of the story - act on fact, not fear or false/misleading information. Consult your local real estate expert for the data that you need to guide you in your home-buying and home-selling process. Don't rely on national news and averages to make this important financial decision; inaccurate could will cost you in the long run.
Fact: Charlotte NC real estate is not only local but, hyper-local, neighborhood-specific.
Fact: Charlotte NC unemployment is currently at 11%, down from last month
Fact: Sellers are getting an average of 95% of their list price.
Also, factual year-over-year data is provided below.
*This data was obtained from Charlotte MLS and is deemed reliable but, not guaranteed.
Consult your local Charlotte NC real estate expert for more hyperlocal statistics. It will guide you in the direction that you need to be going to secure the best property for the best price that fits your specifications.
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