The Charlotte real estate market kept going strong despite the weather-related slowdowns reported in other areas of the country. Once again, average prices for homes firmed up, with the average price increasing by $11,054, or 5.7% compared to 2013, to $206,384. As of 2-28-2014, the average list to close was 145 days, or 4.8 months, a decrease of 1.4% from last year at this time. And once again, we’re seeing supply continuing to diminish as the inventory of existing homes on the market dropped by 6.2%. This contributes to the upward pressure on average home prices. Judging by everything we’ve seen over the past few years, we can expect that trend to continue.
It’s still a seller’s market out there. The percent of original list price received at closing crept up once again, this time to 92.8%, which is a 0.2% increase from last year – not much, but indicative that the Charlotte real estate market remains robust, with no signs of slowing down anytime soon.
Let’s not forget that winter is traditionally the “off-season” for real estate. Despite the cold, and despite the unusual snowfall (which my fellow Charlotteans turned into just another recreational activity) sales have remained brisk. Spring is right around the corner, so we know the Charlotte real estate market will only blossom and warm up even more. Give us a call today, and let’s get rolling!
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