It’s a good time to sell your Charlotte metro area home. Low housing inventory levels are still a major factor in the market. And home prices continue to increase throughout the Charlotte region. Low interest rates are fueling home buyer demand.
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 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.
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.
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What’s Your Charlotte Region Dream Home Worth?
Wondering what your Charlotte region home is worth in today’s market? Find out by clicking on the picture below.
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.
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Buying Or Selling A Charlotte Region Home….
… The Right Broker Makes All The Difference!
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: