How’s the Charlotte Metro Housing Market Faring in May 2021?

By
Real Estate Agent with www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 228209

How’s the Charlotte Metro Housing Market Faring in May 2021?

 

As a colleague said earlier this week, “It’s the wild, Wild West out there!” No truer words have been spoken. In some neighborhoods and price ranges, we are waiting in line to tour homes - and that’s WITH an appointment. 

 

Strategizing our Offers so that they will not only compete, but win, is another challenge. Most have realized that patience is a virtue. I have colleagues who tell me of buyers for whom they have submitted more than 10 Offers - that’s 10 properties they have tried to purchase and were unable to come out on top of the dozens of Offers that were submitted on each property. My recommendation - learn from your losses and KNOW that one buyer WILL win. Why shouldn’t it be you?

 

With those multiple offer situations driving sales prices above asking price, you simply must be prepared to put your best foot forward. With such strong activity, by the time a property sale closes, the market may have already moved higher than that sold price suggests. If you allow it to, this can create stress and frustration for you as a prospective homebuyer. 

 

New Listings were up in the Charlotte region by 32.5% last month to 5,711. Pending Sales increased 46.3% to 5,453. Inventory shrank 66.8% to 3,018. Prices moved higher as Median Sales Price was up 14.5% to $315,000. Months Supply of Homes for Sale was down 71.4% to 0.6, indicating that demand increased relative to supply for another month. 

 

While housing affordability remains an area to watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and well into summer months. So, if you’re a buyer, buckle up - it really IS the wild, Wild West out there! And, if you’re a seller, congratulations - you have chosen THE hottest market to cash out that equity that we have ever seen in the history of home sales. 

 

Thinking of buying or selling? Let’s talk! Hiring the right Realtor® for the job has never been more critical.

 

© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | 704-491-3310 | CharlotteBroker@icloud.com | How’s the Charlotte Metro Housing Market Faring in May 2021?

Comments (20)

Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Hey!  I live in the West and it is definitely Wild out here too.  😉  Thank you for the interesting market update.  Have a great Memorial Day Weekend!

May 28, 2021 12:33 PM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

It is unprecedented both for low interest rates as well as little inventory.  Creative writing and a big cash supply is what gets the attention.

May 28, 2021 01:04 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Debe lets hope more homes come on the market, so Buyers will be able to purchase a home, and sales can continue to increase.

May 28, 2021 03:48 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Debe Maxwell, CRS  As a seller you need to hire the right agent, not just anyone someone who knows the market and will work strictly in the interest of the seller and explain this market if they can

May 28, 2021 05:30 PM
Steven Nickens
Wailea Realty - Wailea, HI
R(S)GRI ABR, Maui Real Estate Hawaii

Debe, sounds like a Maui market report to the tee, maybe except the prices. Finding a home for your clients is a bit of a challenge these days.

May 28, 2021 07:49 PM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Debe! Thank you for an easy to understand and still very informative market report

May 29, 2021 07:30 AM
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Debe

It truly is a Wild West here too. I think this is true for the entire country. Your post really hits home the point, buyers need a great Realtor like yourself more than ever. cheers cvc

May 29, 2021 07:59 AM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Charlotte home buyers and sellers are sure to value your real estate market report, Debe.

May 29, 2021 01:40 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Debe, the same problem in my market virtually no inventory, clearly if you got nothing to sell there are no sales,, Endre

May 29, 2021 11:39 PM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Hi Raymond Henson, eXp Realty - it's always the Wild West where you are, isn't it?!!

I hope you're enjoying your weekend as well.

May 31, 2021 10:41 AM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I'm loving reading some of the creative write-ups, Ed Silva. I'm not seeing them in my market but, elsewhere (on social media) I am and I thing it really does help!

May 31, 2021 10:42 AM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Let's, George Souto! It's been a long time of this non-ventory and it's about to kill me!

May 31, 2021 10:43 AM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

You are spot-on, Hannah Williams! You are certainly the Philly real estate pro to call!

May 31, 2021 10:43 AM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

And, it's so difficult to condone offering $100K over list price - with no contingency - sometimes, Steven Nickens. And, you bet, our prices are definitely not the same. If they were, I'd be working there with you in a hot New York minute!

May 31, 2021 10:44 AM
Steven Nickens

I would love to work with you Debe, your such a rockstar in real estate.

May 31, 2021 04:32 PM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Well, thank you, Rocky Dickerson - I really appreciate your kind words. 

 

See you on Tuesday!

May 31, 2021 10:45 AM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

You're so right, Curtis Van Carter - it's the Wild West everywhere! Thank you for your kind words and for stopping by!

May 31, 2021 10:46 AM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Let's hope, Myrl Jeffcoat - it's certainly not a market for the faint of heart, is it?!

May 31, 2021 10:46 AM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Hi Endre Barath, Jr.! Indeed! Buyers - especially investors - are taking breaks when they don't want to overspend and aren't pressed to throw money at winning bidding wars that won't increase your rental bottom lines either!

May 31, 2021 12:40 PM
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Debe

I guess the last words are draw parrrtnerrr. I mean this in my best  John Wayne voice. Have a great Memorial Day, cheers cvc

May 31, 2021 04:16 PM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

LOL That's great, Curtis Van Carter! Thank you for stopping by!

Jun 01, 2021 12:37 PM