Charlotte Real Estate Market Update

How is Charlotte Real Estate doing?

Are we in a seller’s market? Or a buyer’s market?

In the world of Real Estate we use statistics to analyze and inform us about how our real estate market is doing in Charlotte. A typical way to know if it is a buyer’s market, or seller’s market, is based on how long it takes for homes to stay on the market. This is called the Absorption rate. If it takes more than 6 months to sell a home, then it is considered a buyer’s market, if it takes 6 months to sell you are right there in the middle, a flat market. If it takes less than 6 months to sell a home, then you are in a seller’s market.

Charlotte Single Family Homes are selling on average 3.8 months

Seller’s Market

The Charlotte real estate market is changing. Recently all 3 of my current transactions were multiple offer situations, and under contract within 5 days.

Homes in Charlotte are selling fast.

Single Family homes, Re-sale, Charlotte

Charlotte Homes under contract on average in 44 days

Another question buyers and sellers always ask is price. Price is key. Price is everything.
The time where you could buy a home in Charlotte for 20% under market value has passed.

Homes in Charlotte are now selling at an average of 96% of list price!

So, submitting an offer that is extremely LOW is not only insulting to the seller, it makes little sense. Because the seller knows if his/her home is priced right, it should sell at 96-99% of list price.  In some cases, I’ve seen homes sell for more than listing price!

For more information on how the home you are buying matches up to the Charlotte real estate market, or information on how to strategically price your home to sell in the Charlotte market, Contact Danielle Edwards with Re/Max Executive 704-604-2999

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