Spring is just around the corner, we’re seeing a lot of blooms out already around Charlotte, and the only problem with Charlotte real estate is that there just isn’t enough of it!
Yes, as we’ve been reporting for some time, the market is strong (and that’s a good thing!), but contractors can’t seem to keep up with demand. As of 2-29-2016, the inventory of Charlotte homes for sale is at 9,936, a reduction of 26.4% from last year. Little surprise that the average sales price is at $230,043, a rise of 4.2% from the previous February. That’s $9,253 more than the average sales price from 2015, which was also a big growth year.
The percentage of the original list price received has gone up another 1.4% to 94.9%. It’s important to realize that that’s an average; we’re seeing quite a few offers greater than the asking price. That’s how much of a seller’s market we have these days. And with the number of pending sales up by a very healthy 22.2% to 3,814, we can expect continued pressure on inventory and pricing.
What’s the smart move in such a market? The answer is to find someone who’ll represent your best interests, who knows the market, and who can guide you through the ins and outs of getting the best financing arrangements possible. More than ever, it’s the time to put your trust in an Exclusive Buyer’s Agent. Remember that we’re here for you!
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