Is The Charlotte Region A Home Buyer's Market Or A Home Seller's Market?
With just 2.1 months of housing inventory overall as of October 2019, Charlotte could well be considered a "true" home seller's market. However, the answer to that question is not as straightforward as it would seem based on that low overall average of 2.1 months. The Charlotte region is actually a seller's market, a buyer's market, and even a neutral market. It depends on the price range of a home whether it's a home buyer's or home seller's market in Charlotte.
Charlotte Housing Inventory Broken Down By Price Range:
Homes priced $1 million and above: 12.5 months of inventory = BUYER'S MARKET
Homes priced $750,000-$999,999: 7.4 months of inventory = BUYER'S MARKET
Homes priced $500,000-$749,000: 5.2 months of inventory = NEUTRAL MARKET
Homes priced $350,000-$499,999: 3.9 months of inventory = SELLER'S MARKET
Homes priced $250,000-$349,999: 2.9 months of inventory = SELLER'S MARKET
Homes priced $200,000-$249,999: 2.0 months of inventory = SELLER'S MARKET
Homes priced $100,000-$199,999: 1.9 months of inventory = SELLER'S MARKET
Clearly, if you're looking to buy a Charlotte region home above $750,000, you may well be in the "driver's seat" as there is plenty of inventory. If you're looking to buy a home priced from $500,000 to $749,999, the market is more balanced and as a buyer you'll have fewer options and less negotiating power. Under $500,000 home buyers in Charlotte are in a seller's market, which is most "severe" for homes priced under $350,000. This means your options may be very limited and negotiating power is greatly reduced.
How Home Prices Are Impacted In A Buyer's, A Seller's, Or A Neutral Housing Market
LOOKING FOR YOUR DREAM HOME IN THE CHARLOTTE AREA?
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FREE 2019 Home Seller Guide: “Things To Consider When Selling Your House,”
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This Charlotte, NC region housing market update is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts serving Charlotte area home buyers and sellers for 20+ years.
If you're considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:
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