Is This A Good Time To Sell Your Home?
It's a good time to sell your home based on June 2019 existing home sales compared with June 2018, as reported by the National Association of Realtors (NAR). Home prices continue to increase, the quantity of distressed properties for sale continues to fall, homes continue to sell quickly, inventory is still well below what's needed for a balanced market.
How Does The Charlotte Region Housing Market Compare?
The Charlotte region's housing market is "tighter" than the national averages making it an even better market in which to sell your home:
- Median sale price of homes increased 7.3% in June 2019 versus June 2018 and compared with 4.3% nationally. (Average sale price of homes in the Charlotte region increased 6.3% year-over-year, as well.) Ongoing price increases for Charlotte region homes has Charlotte slowly but surely "catching up" with national median prices at $267,250 versus the national median price of $285,700.
- Months supply of homes is not increasing, unlike in the rest of the nation. Charlotte region's months supply of homes decreased 14.8% in June 2019 versus June 2018 to just 2.3 months of overall housing inventory. This compares with 4.4 months supply of homes in a national average. Overall, Charlotte region's housing inventory dropped 14% year-over-year.
- Days on market for Charlotte homes on average is somewhat higher than the national average of 27 days at 40 days. Lack of affordable inventory contributes to this higher days on market.
- Home sales in the Charlotte region were down 6.1% year-over-year compared with the national average of -2.2%. Again, lack of inventory in the Charlotte region contributed to the greater slow down in sales.
- Distressed property/lender mediated sales in the Charlotte region represented just .9% of total closed sales in June 2019. That's less than half the average sales of distressed properties nationwide. Charlotte region's foreclosure sales were down 23.8% year-over-year, while short sales were down 43.8% year-over-year.
Video: 5 Things You Should Know About The Current Housing Market
Wages are increasing and mortgage rates are low. While Charlotte region inventory remains very low over time it should increase.... that means the longer you wait to sell the more competition you'll face from other homes. Let's get together to talk about how to use the strength of the current economy to your advantage if you're considering buying or selling a home in the near future!
Find Your Charlotte Region Dream Home
It's easy to find your Charlotte region dream home at GreatHomesInCharlotte.com. You can search for all homes for sale in the entire Charlotte metro area for sale here at: www.GreatHomesInCharlotte.com.
And don't miss out on the newest home listings in the Charlotte region. Sign up to receive email notification of homes as soon as they come on the market. You can customize your search to your specific needs and always be the first to know what's coming on the market in throughout Charlotte.
What's Your Charlotte Region Home Worth?
Wondering what your Charlotte region home is worth in today's market? If you got your home’s value from Zillow recently, but aren’t sure what to do next, find out by clicking on the picture below. Even Zillow agrees that your best bet is to get an accurate home value report from a real estate agent (hint: that's us).
If you're thinking about selling your Charlotte metro area home, let's get together and discuss the supply conditions in your neighborhood and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.
Contact us if you'd like to receive our Neighborhood Analyzer Report on a monthly basis so you can keep track of home sales activity in your neighborhood.
We're happy to provide this information with no obligation on your part.
This Charlotte, North Carolina real estate monthly update for the Charlotte region is brought to you by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts. We've been opening doors for home buyers throughout the Charlotte region for 20+ years.
If you're considering selling or purchasing a home in the Charlotte area, I'd love an opportunity to earn your business, exceed your expectations, and to show you how: