2013 - Charlotte, NC Real Estate Market Report
Strong Demand for Charlotte Homes Created A Banner Year!
When we look at the real estate market for 2013, overall it proved to be an incredible year for housing.
The HEALTH of the Charlotte real estate market definitely pointed upward.
Available inventory in January 2013 was down by 30%, as inventory continued to fall throughout the year. Mortgage rates remained favorable, rents were high, properties which were priced right and in good condition sold quickly.
The Spring market arrived early, we started experiencing “The Perfect Real Estate Storm” Unleashed demand, caused home prices to rise due to shortages which created multiple offer scenarios and a very aggressive real estate market.
My marketing message throughout 2013 to my S.O.I and to anyone who would listen or wanted to talk real estate was: “BUY NOW” “SELL NOW” “DON’T WAIT!”
According to our Charlotte Regional Realtor Association: Buyers closed on a whopping 24.6% more homes in 2013 than in 2012, finishing at 34,468 for the year and this was of course throughout our entire MLS.
Sellers regained a lot more ground by listing 12.2% more than the final 2012 numbers.
We closed out 2013 with a 7.5% median price increase compared to 2012.
2014 is shaping up to be another banner year! Sellers if you want to sell your home in 2014 the time to start planning is “NOW” Renters, it is still 30% cheaper to buy than to rent as rents continue to increase. Buyers, don’t wait “Buy Now”
HAPPY DAYS ARE HERE AGAIN!