Home Inventory Is Still Very Low... Summer 2022 Will Still Be A Great Time To Sell Your Charlotte Region Home.
If You've Been Thinking About Selling Your Home This Summer...
Nina Hollander With Coldwell Banker Realty Can Help!
Just how low is Charlotte region's housing inventory? While inventory has increased somewhat compared with the first quarter of 2022, as of May 2022, the Charlotte region had 3,788 active property listings, down 12.3% from one year ago. The months supply of homes stood at just 0.8 months in May 2022, down from 0.9 months in May 2021. With less than one month of inventory, a housing market is a home seller's market.
What Does Low Inventory Mean For Charlotte Region Home Sellers?
High Visibility For Your Home... PLUS...
- You'll get more money for your home if you sell now during this inventory shortage. Average home sale prices in the Charlotte region were at historic highs as of May 2022, as were median home sale prices. Year-to-date as of May 2022, home sale prices have increased 16.9%, while median home sale prices have increased 20.5%.
You'll sell your home at a higher median list to sale price. As of May 2022, the percent of sale price to original list price was 102.9%, up 1.3% year-over-year. Year-to-date in 2022, the percent of sale price to original list price was 101.8%, up 1.5% as of May 2022.
You'll sell your home more quickly. Average days on market are at historic lows in the Charlotte Region. As of May 2022, average days on market were 14 days, down three days over May 2021. Year-to-date as of May 2022, average days on market are down 20.8% to 19 days compared with 24 days one year ago.
HOMEOWNERS ARE SITTING ON A LOT OF EQUITY TODAY... DID YOU KNOW...
Is it time to cash in on your equity? Reach out to me at 704-779-0813 to learn how much equity you have in your home and how you can use it to fuel your next move.
Need another reason to sell your Charlotte Region home this summer?
After two years of record-setting activity we are seeing signs of a market correction. High home prices and a surge in mortgage rates are slowing buyer activity under the weight of soaring homeownership costs. (Charlotte region's home affordability index was down 22.8% year-over-year in May 2022.)
Economists predict that if sales continue to soften in the near future, we might see some downward pressure on home prices. In the Charlotte region, as of May 2022 demand continued to increase relative to supply... but it remains to be seen how long that continues. At least for the foreseeable future, Charlotte region home sellers can expect home inventory to remain low and home prices to increase, albeit at a slower pace than what we've seen in the past two years.
This means... you still have an opportunity to get great terms for your house when you sell this summer. That’s because there are still more buyers who want purchase than there are homes for sale. And that means prices are likely to continue appreciating, just at a more moderate pace. Reach out to me at 704-779-0813 if you’re ready to list in today’s sellers’ market.
TOP SIGNS IT'S TIME TO SELL ACCORDING TO THE EXPERTS: VIDEO
After two years of record-setting activity, there are signs the housing market might be cooling. High home prices and a surge in mortgage interest rates are slowing buyer activity, with home sales declining for the third consecutive month under the weight of soaring homeownership costs.
WHAT'S ON THE HORIZON FOR THE HOUSING MARKET IN THE SECOND HALF OF 2022: VIDEO
THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE
Need Help With Home Renovations/Updates Before Listing Your Home For Sale?
RealVitalizeSM is an exclusive Coldwell Banker program that helps with improvements and repairs to prepare your home for sale. We cover upfront costs and get paid back when your home sells. No hidden fees, interest charges or markups.
This Charlotte region housing market update is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, Greater Charlotte area residential real estate experts serving greater Charlotte region's home buyers and sellers for 20+ years.
If you're considering selling (and/or purchasing) a home in the Greater Charlotte region, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:
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