From Keeping Current Matters (KCM) comes the following infographic recapping existing home sales and prices from NAR (National Association of Realtors) as of January 23, 2015. The "good" news is that all regions of the United States showed an increase in average home prices year over year, with the South having the strongest performance at 6.6% (as compared with the national average of 6%). However, with respect to sales, the Midwest region showed a decrease of 2.7% in sales, on average. The South, once again, showed the greatest increase with a 7.4% improvement year over year (more than twice the national performance overall).
HOW DOES THE CHARLOTTE, NORTH CAROLINA REGION COMPARE?
For the Charlotte, North Carolina area, this is clearly good news and as of the week ending January 17th, our pending home sales were up 64.2% versus one year ago, while median sale prices were also up 4.3% versus one year ago. Also, as of January 17th, Charlotte's housing inventory decreased 12.6% and the months supply of homes is down to 4.3 months.
For Charlotte area home buyers, this means the longer you wait to buy, the more you will pay for a home and the fewer choices you will have in selecting a home. Most of the Charlotte area is in a seller's market and you can't expect a lot of negotiating leverage.
For Charlotte area home sellers, this means that if your home is strategically staged, marketed and priced, it will sell quickly and at top dollar.
SEARCH ALL CHARLOTTE METRO AREA HOMES FOR SALE
WONDERING WHAT YOUR CHARLOTTE METRO AREA HOME IS WORTH IN TODAY'S MARKET?
Comments(4)