Lack Of Inventory Impacting Home Sales ~ Up Less Than 1% In September

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Real Estate Agent with Coldwell Banker Residential Brokerage
https://activerain.com/droplet/4WYC

The September 2016 housing market update from the National Association of Realtors (NAR) indicates that lack of inventory is impacting home sales, which were up less than 1% over one year ago, while inventory was down 10.1%. 

 

Housing Market Overview From National Association of Realtors for September 2016 Infographic

 

How The Charlotte, North Carolina Housing Market Compares To National Averages:

 

  • Charlotte Region Average Sale Price: up 7.2% compared with a 5.1% increase nationally.
  • Charlotte Region Sales: up 3.2% compared with a 0.8% increase nationally.
  • Charlotte Region Inventory:  down 22.1% compared with a 10.1% decrease nationally.

 

Despite double digit decreases in Charlotte region's inventory month after month, home sales in the Charlotte region continue on an upwards trajectory and doing better than national averages. But without a doubt, the lack of inventory is fueling increasing home prices as demand outstrips supply.

 

 

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This Charlotte, NC region housing market update is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive Realty, your Charlotte metro area real estate consultants. 

 

If you are considering selling or purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that "The Right Broker Makes All The Difference."

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Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Residential Brokerage
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

2007 - 2019 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Tags:
housing market update from carolinas realty partners
september 2016 home sales affected by lack of inventory
housing market report for september 2016 infographic
charlotte home sales doing better than national sales in september 2016

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Rainmaker
774,028
Joanna Cohlan
Fresh Eyes For Your Home - Chappaqua, NY
Designing, Decorating & Staging Westchester Homes

I guess the laws of supply and demand are working in Charlotte - the prices must be rising due to a lack of inventory and a strong demand for housing in your market by new retirees!!

Oct 23, 2016 04:58 AM #1
Ambassador
2,771,548
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Nina - This is a widespread phenomenon and labratory demonstration of supply and demand, with prices on the way up. What makes it worrisome is that incomes aren't rising at anywhere near the same pace, while rents are rising as well.

Oct 23, 2016 08:31 AM #2
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Dick Greenberg ~ hi Dick... you bring up an excellent point. The affordability index in Charlotte area is not quite as bad yet as in other parts of the country, but it is also increasingly a problem for first-time buyers, especially.

Oct 23, 2016 08:38 AM #3
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joanna Cohlan ~ hi Joanna, all buyers, regardless of their stage of life, are feelibg sticker shock these days.

Oct 23, 2016 08:39 AM #4
Ambassador
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina inventory is something we have plenty of around here.  Hope yours starts to increase to keep those create sales stats you guys have been having all year.

Oct 23, 2016 09:58 AM #5
Rainmaker
3,144,287
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina Hollander and thanks for the update again (Still like that button)  Hope you are having fun.

Oct 23, 2016 10:20 AM #6
Rainmaker
3,981,341
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

My area is below sales from last year.

Inventory has been the main reason

Oct 23, 2016 12:07 PM #7
Rainmaker
2,889,176
James Dray
Fathom Realty - Rogers, AR
Exceptional Agents, Outstanding Results

Good morning Nina.  We are having trouble keeping inventory between 100-200K.  They go in the sold arena withing one to two weeks. 

Oct 23, 2016 07:52 PM #8
Rainmaker
2,977,150
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Same thing is happening here Nina Hollander , hoping we get an increase in listings after the election

Oct 23, 2016 11:08 PM #9
Rainmaker
2,189,557
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

We're following a similar pattern in Sacramento. Just not enough inventory to meet the pent-up demand. And buyers are getting priced out of the market or being forced to reduce their sales price ranges. This is a time to buff up the buyer leads and capture more of the motivated buyers.

Oct 24, 2016 09:53 AM #10
Rainmaker
2,494,472
Rebecca Gaujot, Realtor®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Or inventory is low for houses in the low 100s up to 200s. Depending on the election WV real estate may go down or perhaps up...we will see!

Oct 24, 2016 01:45 PM #11
Ambassador
1,652,889
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Nina alway nice to see what is going onin other markets.  Sales up and inventory falling is the story here too.

 

Oct 24, 2016 08:27 PM #12
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jennifer Fivelsdal ~ hi Jennifer, that seems to be the story in many markets around the country right now.

Oct 24, 2016 10:09 PM #13
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Rebecca Gaujot, the Go To Realtor® ~ hi Rebecca... all I can say is inventory from $100-200K... what inventory?

Oct 24, 2016 10:10 PM #14
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents ~ hi Elizabeth... the solid leads we need to work on is listing leads... no problem finding motivated buyers, it's finding them the inventory to buy.

Oct 24, 2016 10:11 PM #15
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Scott Godzyk ~ hi Scott... our lack of inventory in my market is in its third year. I'm not sanguine that any election will impact that any time soon.

Oct 24, 2016 10:12 PM #16
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

James Dray ~ hi James... I'd like to have any inventory under $200K. Here, if it pops up, it's gone in a nanosecond.

Oct 24, 2016 10:13 PM #17
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

William Feela ~ hi Bill... hard to sell what you don't have in stock to sell. My market is squeaking by, but sales would be higher if we had more reasonably priced inventory.

Oct 24, 2016 10:14 PM #18
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Will Hamm ~ thanks, Will. Back in Charlotte after a grueling 30 hour trip. Totally jet-lagged right now.

Oct 24, 2016 10:14 PM #19
Rainmaker
3,061,339
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto ~ hi George... wouldn't it be nice if you could send us some of your inventory...it would go quickly here!

Oct 24, 2016 10:15 PM #20
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