Home sales are up dramatically in virtually every price range as of May 2015 versus last year~both nationally and in Charlotte, North Carolina. The most recent Existing Home Sales Report from the NAR (National Association of Realtors®) shows that home sales are up dramatically in five of the six price ranges used to measure home sales, with only homes priced under $100,000 showing a decline. (Most likely this decline is due to a lack of inventory, especially in distressed property inventory.)
The following graph illustrates the increase in home sales over the past year and how sales in the city of Charlotte, North Carolina compared with national statistics.
Charlotte City: -7.0% +19.5% +22.0% +30.0% +27.5% +32.0%
Like the rest of the country, Charlotte sales were up in all price ranges except the under $100,000 price point. Homes priced under $100,000 in the city of Charlotte are scarcer than hen's teeth right now. As for the remaining price ranges, Charlotte is way ahead of national averages in all the other ranges and quite significantly so in four of the five price ranges. It's especially heartening to see homes priced above $500,000 selling at a faster rate than even one year ago.
So if you're a home buyer who's been actively looking for a home in Charlotte and having a hard time finding a home or losing out in multiple offer bidding wars, these numbers say it all. There's a lot of competition out there for home listed for sale.
If you're a home seller who's been actively on the market for any length of time and your home hasn't sold in the current high-demand market, it may well be time for you to review your pricing and marketing strategies with your agent.
SEARCH ALL CHARLOTTE METRO AREA HOMES HERE
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