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Tight Housing Inventory In 4th Quarter 2017 ~ Time To Sell Your Home?

By
Real Estate Agent with Coldwell Banker Realty 179530

 

Inventory levels of homes for sale dropped dramatically in the 4th quarter of 2017 as compared with the same time frame in 2016. Trulia reported that “in Q4 2017, U.S. home inventory decreased by 10.5%. That is the biggest drop we’ve seen since Q2 2013.” 

The drop in inventory levels in the Charlotte metro region was even greater in the 4th quarter 2017... essentially double the national rate at 21.1%. In Mecklenburg Housing inventory levels at critical lowsCounty, which includes the cities of Charlotte, Pineville, Matthews, Mint Hill, Davidson, Huntersville, Cornelius, the drop in inventory was even greater at 22.7%.

 

In Union County, NC inventory dropped by 13% in the 4th quarter (still higher than the national average). In neighboring York County, SC, inventory dropped 21.7%. 

 

   

                   NATIONAL HOUSING INVENTORY LEVELS CRITICALLY LOW                           

How housing inventory levels dropped in 4th quarter 2017

 

So is this a good time to sell your Charlotte area home if you've been thinking about making a move in 2018?  Absolutely! Demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level. Demand is especially strong for "affordable, starter homes." If you're thinking of selling in 2018 and trading up your home, now may just be the perfect time to do so.

 

  

WONDERING WHAT YOUR HOME IS WORTH IN TODAY'S MARKET?

 

 

How much is my charlotte home worth?

 

 

 

This update on Charlotte area housing inventory is brought to you by Nina Hollander and Carolinas Realty Partners with RE/MAX Executive, your Charlotte metro area real estate residential real estate experts.

 

If you are considering purchasing or selling a home in the Charlotte metro area, I'd love an opportunity to earn your business, exceed your expectations, and to prove to you that:

"The Right Broker Makes All The Difference."

 

 

 

"Where's The Inventory" image credited to: Kamloops Property For Sale

"Have You Seen This House" image credited to; Evergreen State Homes

Originally posted on: www.GreatHomesInCharlotte.com     https://www.greathomesincharlotte.com/no-relief-for-low-housing-inventory-in-4th-quarter-2017-time-to-sell-your-home 

 

 

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From The Greater Charlotte Area
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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.

 

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Listen to Realtor Nina Hollander...Now is the PERFCECT time to sell your Charlotte home, and she is the one to list and get it sold!

Jan 31, 2018 05:05 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Anyone thinking of selling their home in your area should read this post and list with you.

Jan 31, 2018 05:32 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Definitely time for homeowners that are thinking about selling to get off the fence and give you a call.

Jan 31, 2018 06:13 AM
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

This is very interesting Nina. I studied your numbers and we have the same situation here in Phoenix Scottsdale when I compared to our data.  I did not look at the national number, but it's a serious situation. 

Our total inventory is very low, except in the luxury market at $1M+. New listings are at a very significant drop! That's cause for concern.

Jan 31, 2018 06:28 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, that is crazy, and sure hope your homeowners start listing their homes.  We have that exact same situation.

Jan 31, 2018 06:31 AM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

When we are in the frist quarter sales are determined by inventory levels and the interest rate. Sounds like a great time to put your home on the market in your city.

Jan 31, 2018 07:35 AM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

I think we're all in the same boat in many markets around the country. Sellers are hanging on, worried they won't be able to find the replacement home they need. And some, are watching the prices and the economy and are worried about the real estate market a bit. It's a catch 22. 

Jan 31, 2018 07:38 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 ~ hi Sheila and Larry... it seems that the worse our inventory levels get the less interested people are in selling. It's bizarre.

Jan 31, 2018 08:19 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Debb Janes EcoBroker and Bernie Stea JD ~ hi Debb...it's a terrible catch 22 vis-a-vis inventory right now. And for entry level home buyers, it's almost impossible to find anything in my market.

Jan 31, 2018 08:20 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joe Pryor ~ hi Joe... it's been a good time to sell one's home in the Charlotte area for several years now... but it's not increasing inventory!

Jan 31, 2018 08:21 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox ~ hi Joan... it is totally crazy... and in a city like Charlotte for entry level buyers not be able to buy that first affordable home is a crying shame.

Jan 31, 2018 08:21 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Richard Bazinet /MBA, CRS, ABR ~ hi Richard... over $500K inventory is not going crazy, but it's there. Under $400K, difficult, under $300K a bit more difficult, and under $200K almost impossible here.

Jan 31, 2018 08:23 AM
Richard Bazinet /MBA, CRS, ABR

A lot of familiarity with our market Nina Hollander . It's crazy how comparable it is.

Jan 31, 2018 07:13 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England ~ hi Brian... I keep thinking that the fence sitting is getting increasingly uncomfotable... but so far, no go for new listings!

Jan 31, 2018 08:23 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gita Bantwal ~ hi Gita... thanks. I'm sure that you are seeing some level of inventory shortages in your market, as well.

Jan 31, 2018 08:24 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

The problem we are seeing in our market, is yes we can sell our houses fast but unless you are ready to move a distance; you can't afford something to move too.

Is it this way in charlotte Nina Hollander

Jan 31, 2018 11:45 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Paul S. Henderson, REALTOR®,CRS, ~ it's very much like that, Paul... and then it also becomes a question of how much of a distance. These days, within 30 miles you're not getting any bargains here.

Jan 31, 2018 12:11 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

In Seattle people selling are seeing their homes bid up $200k to $350k above asking and want to use their equity to buy something smaller Nina Hollander. If they drive 50 miles north or south they can find a track home that meets their needs. We were lucky to have had our 2nd home paid off  so our equity went straight in the bank...

Jan 31, 2018 12:36 PM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Nina that is a big drop in inventory and you guys were already tight on inventory.  Hopefully the Spring market will help to create some new listings.

Jan 31, 2018 01:07 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Paul S. Henderson, REALTOR®,CRS, ~ hi Paul... we are not seeing that same phenomenon here in Charlotte. And most people who want to trade up don't want a track home, don't want to move 50 miles away from friends, and don't want kids going to second rate schools. Hence the dilemma.

Jan 31, 2018 02:07 PM
Paul S. Henderson, REALTOR®, CRS

In deed 

Jan 31, 2018 02:21 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto ~ hi George... a 20% drop in inventory year over year on top of a similar drop the prior year is devastating.

Jan 31, 2018 02:07 PM