Before I pass on the great news, I thought I'd review my archived Charlotte Real Estate Market Reports for a bird's eye perspective. I realized that it was in August, 2011 that I first reported on what I then called our "sputtering recovery" from the 2008 drop. Since that time, improvement in the Charlotte real estate market has been steady and unmistakable.
And this month's numbers continue that welcome trend. The number of Charlotte NC homes on the market in the Charlotte-Gastonia-Rock Hill NC/SC Metro Area was 12,862 as of 1/31/2013. The average sales price was $189,007 or 92.6% of the list price, which is $1,204 or .6% higher than the average sales price at the same time last year. The average number of days on the market for residential listings is 5.2 months.
Now here's the tricky part: While it's still a buyer's market, with many great deals awaiting both first-time buyers and investors, inventory is way, way down. This month's number of Charlotte homes for sale represents a 29.4% decrease from a year ago. And the inventory of available homes on the market as of 10/31/2011 was 19,584. Of course, that's a good thing - a decrease in inventory is a sure sign of a healthy market.
However, the bottom line is that with the decrease in available homes, it's getting harder to find those great deals. That's why you need an exclusive buyer's agent to guide you through the process of finding and buying your dream home. Give us a call today!
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