Home Prices in Charlotte for December 2016
Real estate market data for Charlotte NC provided by Debe Maxwell of The Maxwell House Group & RE/MAX Executive, South End, Charlotte NC.
Charlotte Home Prices
We have seen 45 straight months ($196,554 in March, 2013 to $269,006 in December, 2016) of increases on home sales prices in Charlotte and don’t expect things to slow in the near future. If you are considering buying a home you can still find deals on a house in Charlotte but having a good real estate agent who understands the market is a must.
Don’t wait on the sidelines for too long, many of our listings are selling within days (sometimes HOURS!) of hitting the market. As you can see from the graph below, listing-to-sales price ratio (median values) are at an all-time high (98.1%). However, to make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Charlotte home on which you are making an Offer.
Click this link to find the current inventory is on the market in Charlotte. High inventory will suggest that homes are sitting on the market for longer. Currently in this area of Charlotte, homes have a median time of 13 days on the market before they go under Contract. There is currently an inventory in Charlotte of 3,192 homes for sale with a 2.4 month absorption rate. This would suggest that sellers are in a great position to achieve that goal of the list price - or even above. Buyers should move quickly and Offer aggressively in most communities. Low inventory in Charlotte has multiple offers coming in on homes similar to what we saw back in 2007. Home values are not increasing quite as fast as they did back in 2007 as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. However, low inventory is certainly one indicator that prices should continue to rise, even with the minimal increase we've experienced in interest rates these last two weeks.
Charlotte Real Estate Report Summary
The median list price in December for single family homes in Charlotte is $341,445. The list prices increased by 1.3% from the previous month.
The average price per square foot for single family listings in this area is $123.
The median sales price in December for single family homes is $216,000. The sale prices increased by 8% from the previous month.
The average price per square foot for all sales in Charlotte NC in December was $128.
Find Homes for Sale in Charlotte NC
Visit my website to search for homes in Charlotte or to be notified when Charlotte homes come on the market.
To find out what you home is worth in the current market email me or call or text (704) 491-3310.