Charlotte's Spring Housing Market Continues To Surge...
... The Charlotte Region Housing Market Is HOT, HOT, HOT...
... And Charlotte Region Homes Are Selling Fast!
Wondering just how fast homes have been selling in the Greater Charlotte market this spring? The average days on market for Charlotte area home were just 20 days in April. This is down from 39 days in April one year ago. Homes also sold four days more quickly than in March 2021.
Home sale prices surged in May: +16.4% year-over-year, on average. Median home sale prices increased 24.4%. Closed and pending sales also surged in May. Closed sales increased 24.8%; pending sales increased 46.3% year-over-year.
With inventory down 66.8% year-over-year and the months supply of homes just 0.6 months, homes in the Greater Charlotte area are selling as quickly as they are coming on the market.
Existing home seller and new construction activity is well below the levels needed to bring the market to some semblance of balance. Numerous national and regional builders in the Charlotte region have essentially closed their sales offices and are not releasing lots.
With the supply of homes at an all-time low, we can expect a continuing busy and highly competitive spring housing market in the Greater Charlotte area.
What This Means For Home Buyers:
The underlying message for home buyers: with continuing low interest rates, which are projected to increase at some point in 2021, now is the time to buy -- before the cost of both homes and mortgages increase further. And at the moment, we are not seeing anything on the horizon that would indicate housing inventory will become much more plentiful as the spring selling season rolls on and the summer season begins.
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What This Means For Home Sellers:
The underlying message for home sellers: now is the time to sell, whether you are looking for a move-up home or to down-size. Housing inventory is low and demand is strong. You'll sell your home quickly and at top dollar with minimal, if any, contingencies.
THIS SPRING IS A GREAT TIME TO SELL YOUR HOUSE: VIDEO
What This Means For Both Home Buyers & Home Sellers:
Anyone interested in buying and/or selling this spring should start preparing now to determine their lending options and financial position. Be prepared to be flexible when it comes to location and amenities. Working with an experienced Realtor® to help navigate the complexities of today's market conditions will be critical.
Anyone interested in buying or selling should start preparing now to determine their lending options and financial position, and shouldbe flexible withlocation and amenities. They should also connect with Realtor® in order to navigate the complexities of the market
Anyone interested in buying or selling should start preparing now to determine their lending options and financial position, and shouldbe flexible withlocation and amenities. They should also connect with Realtor® in order to navigate the complexities of the market
Anyone interested in buying or selling should start preparing now to determine their lending options and financial position, and shouldbe flexible withlocation and amenities. They should also connect with Realtor® in order to navigate the complexities of the markeCharlotte Region Housing Market Overview: April 2021
MEDIAN HOME SALE PRICE TRENDS IN THE CHARLOTTE REGION
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This Charlotte region housing market update is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, your Greater Charlotte area residential real estate experts serving the Charlotte region's home buyers and sellers for 21+ years.
If you're considering selling or purchasing a home in the Greater Charlotte region, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:
"The Right Broker Makes All The Difference."
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