It’s hard to get real estate professionals to agree about anything, but the overwhelming consensus is that the Charlotte real estate market is full of opportunity and peril. Yes, there are torpedoes and mines in the waters ahead, but also a lot of fantastic deals. With quick, multiple offers near or even over the asking price, a shrinking inventory, and rates still at historic lows, you need an expert to navigate this tricky real estate market.
As of 5-31-2016, the number of pending sales grew to 4,989, or by 21% over the same period in 2015. Meanwhile, the inventory of homes available for sale dropped yet again, this time by 25.4% to 10,880 homes. And once again, the average price for Charlotte homes increased over the previous year. June, 2016 saw that price notch up to $257,855, an increase of 3.2%, or by $8,040 — definitely a clear sign of a market with a lot of momentum behind it.
Another sign of the precarious times we're in can be seen in the percent of original list price received, which was 96.8%, representing an increase of 1.4%. Also, the number of day from listing to closing dropped to 105, or by 9.5% from last year.
Yes, there are turbulent waters ahead, but that’s because Charlotte real estate is such a great buy. With professionals on your side who can help you with the latest market trends or the best deals from Charlotte-area mortgage lenders, you, too, can take advantage of a tricky but rewarding home marketplace.
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