Despite Consumer Confidence Being Up, Sales are Cooling

By
Real Estate Agent with www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 228209

Despite Consumer Confidence Being Up, Sales are Cooling

Home Prices in the Charlotte Region
Okay, I'll be the first to say it - the sizzling market we were experiencing in the spring and early summer months, is beginning to cool a bit.

 

Yes, you may say that this is typically the 'season' for cooling off but, let's remember, real estate follows supply & demand economics. Currently, buyers' interest is waning somewhat, more homes are hitting the market and some which would have sold overnight 6 months ago, are sitting for weeks and even months now.

 

Is the market still hot? Yes, just not sizzling hot! NAR's graph of buyer traffic across the US, shows North Carolina's market moving from a very strong to a strong market. South Carolina is holding steady with a very strong market. 

 

Buyer Traffic by State

 

Valued Insured's recent study reflects that Americans across the US are feeling good about real estate - both about homeownership and housing confidence - the highest ever on record.

 

Consumer confidence

 

No, I'm not being a Negative Nancy but, escalating sales prices can only escalate for so long. Sales prices are at an all-time high here in Charlotte & Fort Mill - yes, an ALL-TIME high! Hover over the graph below and you'll see the incredible gains since 2004 in both areas. The chances of owning a home bought before the recession and not having equity now are slim to none as demonstrated in the graph below.

 

 

Market analytics Charlotte NC

6 months ago, during a 7-day period, you may see 5 - 10 price reductions in Charlotte. Now, they're into the hundreds - more of a normal market, yes but, completely different that our spring market.

Also note that in the Charlotte market (only Charlotte proper included in the graph to the left), 63 homes are 'back-on-the-market' in the past 7 days. That is another telling sign that our market hasn't seen much of in the past 9-12 months.

 


 

 

If you're thinking of buying or selling in the Charlotte or Fort Mill markets, give me a call at (704) 491-3310 - let's talk! I'm happy to provide you more data to make an informed decision on listing your Charlotte Metro region.

 

Or, visit www.ListMyCharlotteHome.com if you're thinking of selling your home in the Charlotte Metro region and want full-service, award-winning customer service. I am also happy to provide references of any of our sellers for you to speak with about their experience. You can also read a few of our reviews on the ListMyCharlotteHome.com website.

Hiring the RIGHT Charlotte Realtor® is critical to your home selling success!

 


 

MORE ARTICLES ON HOME BUYING IN CHARLOTTE NC

 

We have a wonderful search tool, on which you can search and communicate that we think you'll love! Here's the link to Charlotte's best home search tool available!

Hiring the RIGHT Charlotte Realtor® is critical to your home buying success too!

 

© Debe Maxwell | The Maxwell House Group | CharlotteBroker@icloud.com | Despite Consumer Confidence Being Up, Sales are Cooling

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Roy Kelley 09/14/2017 02:00 AM
  2. Chris B Johnson 09/13/2017 09:09 AM
Topic:
Real Estate Market Trends
Location:
North Carolina Mecklenburg County Charlotte
Groups:
North Carolina Real Estate
Posts to Localism
Charlotte North Carolina Area
2017 Market Trend Reports
City and State Community & Marketing Reports
Tags:
charlotte real estate market information
fort mill real estate market information

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Rainmaker
2,644,202
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

I think the "sizzling hot " will return when the inventory picks up Debe. Your market is still strong, and sellers who call you will benefit from your expertise!

Sep 13, 2017 04:25 AM #10
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

This is great information to share with home sellers and home buyers.

Sep 13, 2017 05:20 AM #11
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Paul S. Henderson, CRS, REALTOR®,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Another great one Debe Maxwell, CRS!  I really like your market report format. It has something for everyone looking for a knowledgeable broker or agent in Charlotte NC

Sep 13, 2017 05:28 AM #12
Rainmaker
724,021
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Debe, 

If we want to be trusted, you have to tell it like it is. I really appreciate your post. This is feature worthy (I always check that stuff LOL!).  

Sedona lags behind the market. Our market is just starting to heat up. It will never be as hot as some of the others but we also don't take big hits.

My last two listings were off the market (combined) 9 days. We are a second home, vacation home, retirement area so our market is a little different. 

Homes that are postioned well will sell. IMO, sellers may be trying to squeeze more profit than is currently out there and buyers are pushing back. Just a thought...

Sep 13, 2017 05:56 AM #13
Rainmaker
1,207,077
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Your Alexandria Virginia Real Estate Agent

Debe, your market reports are top of the line. You not only share the numbers but, the story behind them and what they mean for the market. You're the best!

Sep 13, 2017 06:01 AM #14
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Richard Bazinet /MBA, CRS, ABR - Yes, unfortunately we don't have that option beyond the 7-day period. So, now I'm going to have to keep a running snapshot myself of this data each week. It's already been added to my to-do list! 

Sep 13, 2017 06:18 AM #15
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Well, thank you, Patricia Feager! I love investigating the numbers - it's a passion of mine (don't ask me why)!  As you know, it's best to keep on top of them too!

Have a wonderful Wednesday, Patricia!

Sep 13, 2017 06:20 AM #16
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Hi James Dray! Yes, there are still many states in that strong category and I'm thankful one that I serve is in the stong and the other in the very strong! Like you said, it's not a forever thing though - I'm not banking on that either!

Sep 13, 2017 06:21 AM #17
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Thank you, Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400! I agree - the inventory that is there is getting a bit stale - we definitely need more listings!

Sep 13, 2017 06:22 AM #18
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Thank you so much, Roy Kelley! I love sharing my own market but, when I find a good national map, it's good to see where others are in the market as well. Happy Wednesday, Roy!

Sep 13, 2017 06:23 AM #19
Ambassador
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

You're so kind, Paul S. Henderson, CRS, REALTOR®, I appreciate your support! 

Hope you have a wonderful Wednesday!

Sep 13, 2017 06:24 AM #20
Ambassador
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

You're very intuitive, Sheri Sperry - MCNE®! YES, they saw their neighbors get a tremendous price for their homes during the spring and are really pushing the envelope with their pricing now. I believe you're right - when they come to their senses, their homes will sell!

We are 95% primary residences - rare second homes here. Like your area, we really didn't have the tremendous increases that the rest of the country had - until the past 2 years so, I'm thankful to see it leveling out a bit.

Happy Wednesday!

Sep 13, 2017 06:28 AM #21
Ambassador
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Thank you, Amanda S. Davidson - that's so kind of you! I try to put it in a nutshell for those who don't like interpreting data! 

Sep 13, 2017 06:30 AM #22
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Debe we have not seen the hot market you guys were in.  Even though the map says CT is in a strong market, I don't really see it.  But I am hoping for the market to pick up in the Fall.

Sep 13, 2017 07:07 AM #23
Rainmaker
1,104,565
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Out here in Chicagoland, we never experienced the extreme highs seen in other housing markets, Debe Maxwell, CRS  ... let's just say Illinois has it's own unique set of "issues" they're dealing with.  But even then we've seen an improvement overall, for which I've been very thankful.  Hopefully the future holds good things for everyone, no matter their locale ... or whether consumer or professional.

Gene 

Sep 13, 2017 08:53 AM #24
Ambassador
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Hopefully it will pick up for you, George Souto! Perhaps another area of CT is pulling your averages up? I know we are the hot market in NC - Charlotte, Asheville seem to be leading the state but, there are outlying areas that aren't nearly as strong as we are.

Sep 13, 2017 09:31 AM #25
Ambassador
2,192,189
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I think not having that balloon blowing up is a blessing in disguise, Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi. There will be no bubble to burst and hopefully when markets do cool, you won't have much cooling to do!

Like you though, I'm hoping that the future bodes well for everyone! 

Sep 13, 2017 09:33 AM #26
Rainmaker
896,346
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Hi Debe - We don't seem to be experiencing any of that yet, but that might be because the supply has been so short here that we haven't caught up yet. It's bound to happen.

Sep 13, 2017 02:02 PM #27
Rainmaker
3,890,668
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks, Debe.  I'm expecting a bit of a slow fall after this hurricane.

Sep 14, 2017 06:49 AM #28
Rainmaker
106,015
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

Interesting statistics. There are many explainations for the market slightly cooling, but we will just have to see what happens in the long run. Thanks for sharing!

Oct 12, 2017 09:20 PM #29
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