Special offer

Charlotte, NC is STILL a GREAT Market!

By
Real Estate Agent with RE/MAX Gold

Friday, January 11, 2008

Charlotte IS STILL a Great Market!

I was looking at a fancy new Whirlpool washer the other night, telling my husband about all the fabulous things it does, when a sales lady walked over and greeted us. She continued to explain the features and show me colors and options, and then I thanked her for her time. When I started to walk away, she pulled out her business card and said "here take this, we work on commission". I took the card and said "I'm a Realtor, so I understand working by commission", and she got a sour face and replied "Ooh bad time right now...I can't wait to get out of here."

UGH!

Well, I couldn't just let her think this way so I smiled and said "No, it's not a 'bad time' right now...we're still growing and doing good....have you looked at us compared to the majority of the country?" "Ofcourse things seem a little slower right now, but it's a mixture of the time of year, all the media trying to scare people out of buying houses, and the people who are waiting for interest rates to go down (who can complain about those 5%-6% rates that are everywhere??)"

So this morning I came in and spent some time gathering data(January 2005-January 2008) from our MLS and put it into perspective. It's below for all of you who have a little doubt about our market...hopefully it will help us here in the Charlotte area understand that we ARE fine and we WILL BE fine. We also just added a chart to our homepage at
http://www.nc-living.com/ showing that the Charlotte area is ranked 5 by the NAR...go check it out!


Carolina Multiple Listing Service (includes Charlotte and it's surrounding cities)


01/01/2005 - 01/01/2006
Avg Sales Price: $217,678

01/01/2006 - 01/01/2007
Avg Sales Price: $229,084 (+5.24%)

01/01/2007 - 01/01/2008
Avg Sales Price: $240,057 (+4.79%)

_________________________________________________
Charlotte

01/01/2005 - 01/01/2006
Avg Sales Price: $219,003

01/01/2006 - 01/01/2007
Avg Sales Price: $229,579 (+4.83%)

01/01/2007 - 01/01/2008
Avg Sales Price: $244,209 (+6.37%)

_________________________________________________
Concord

01/01/2005 - 01/01/2006
Avg Sales Price: $162,058


01/01/2006 - 01/01/2007
Avg Sales Price: $175,219 (8.12%)

01/01/2007 - 01/01/2008
Avg Sales Price: $188,716 (7.70%)


__________________________________________________
Matthews

01/01/2005 - 01/01/2006
Avg Sales Price: $270,730

01/01/2006 - 01/01/2007
Avg Sales Price: $282,781 (+4.45%)

01/01/2007 - 01/01/2008
Avg Sales Price: $295,318 (+4.43%)

_________________________________________________
Cornelius

01/01/2005 - 01/01/2006
Avg Sales Price: $365,433

01/01/2006 - 01/01/2007
Avg Sales Price: $400,813 (+9.68%)

01/01/2007 - 01/01/2008
Avg Sales Price: $426,691 (+6.46%)

_________________________________________________
Rock Hill

01/01/2005 - 01/01/2006
Avg Sales Price: $170,601

01/01/2006 - 01/01/2007
Avg Sales Price: $178,968 (+4.90%)

01/01/2007 - 01/01/2008
Avg Sales Price: $191,019 (+6.89%)


*the above information is deemed reliable, but not guaranteed. Derived from the Carolina Multiple Listing Service Jan 11, 2008

Posted by Scott & Jayme Davis at 6:37 AM

Comments (3)

Charity Lane
O'Brien Realty - Prince Frederick, MD

Your area is beautiful. Some people just need to see the stats like you took the time to pull. Sometimes people just tend to believe all of the media hype because it is easier than doing the research involved.

Next time someone says "too bad" to you share the stats with them and we will have one less person throwing a pity party for everyone dealing with real estate now.

I think it's a great time still. Interest rates are great, thank goodness qualifications are more strict to keep us out of further troubles, and there are so many very nice homes to choose from. What could be wrong with that!

Have fun, be positive, sell a couple homes and go back and buy that super dishwasher from that sales girl and show her yourself that things aren't so bad and people always need a place to live! She may be a great referral source for you! Just think of all the homeowners she comes into contact with every day that are fixing up their home to put it on the market!!! She should be properly informed and be your new best friend!

Jan 19, 2008 01:10 AM
Kimberly Jonasse
Allen Tate - Charlotte, NC
Thanks for the great info!
Jan 22, 2008 02:34 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

We invite you back to ActiveRain in 2016!

    Much has changed since your last visit to ActiveRain.  We encourage you to take a look at the "new" ActiveRain website.

Sep 25, 2016 06:46 AM