Your Ultimate Guide to Charlotte Market Trends
Charlotte, also known as Queen City, is home to notable attractions, gorgeous neighborhoods
, and a bustling metropolitan area that offers attractive job opportunities to professionals of all ages. So, it’s no wonder why it’s ranked the number one
fastest-growing city in North Carolina, as well as number five among all cities nationwide. An influx of residents, however, means that there is intense competition among home buyers in Charlotte, as it is currently a seller’s market.
You must be informed of the market forecast if you want to buy or sell a home quickly, and for the best price. Continue reading to learn about the latest industry trends, so you can feel prepared when it comes time to enter the market.
What Are Homes Selling For?
Buyers will be pleased to learn that the median sale price of homes in Charlotte has remained the same since last month’s reports. With median prices sitting at just below $400,000, buyers have the opportunity to snag the home of their dreams at an attractive price.
Even though we are seeing a price decrease, it is still as important as ever to consult with a lender as soon as you decide it’s time to enter the market. Not only will you know the exact amount of home you can afford
, but you will have all of your necessary documents in order. Which in turn, will give you an advantage in a competitive real estate market.
The Redbud Group has preferred lending partners — contact us to be connected!
Inventory of Homes for Sale
This month, Charlotte saw a decrease in available inventory of homes for sale from 6,104 to 5,175 active listings — which is a 15 percent difference from this time last year. These metrics suggest that sellers are not panic selling, but rather choosing to wait on the sidelines while buyers continue to absorb listed inventory. To ensure you have the best chance of landing the home of your dreams as soon as it lists, consult with an experienced Redbud Group REALTORS®.
Will My Home Sell Quickly?
In comparison to this time last year, the days a home spends on the market until officially ‘sold’ has increased nearly 27 percent from 15 to 19 days. However, don’t let this number alarm you. In Charlotte, the market is still largely a sellers’ market, so you should have no difficulty selling your home in a reasonable amount of time.
Your home will sell even quicker if it’s staged beautifully
and priced reasonably
. Thankfully, your agent will be able to help you with both of these tasks. At the end of the day, a real estate agent does much more than just put a for-sale sign in your yard
— a Redbud Group REALTORS® will help you every step of the way.
When Will The Market Shift in Favor of Buyers?
The housing market is a tricky thing; however, it’s slowly but steadily moving toward more of a balance. A shift in the housing market does not happen overnight but is more likely to occur over months and years before consumers truly see a change in conditions. Despite new trends, there is still ground to cover before the market shifts in the buyers’ favor.
Although the market is still in the favor of sellers, it doesn’t mean that home buying is impossible. If you want to buy a home quickly, and for the best price, the best thing you can do is consult with a local agent who can walk you through the entire process from beginning to end.
Redbud Group REALTORS® are experts in all things Charlotte real estate. Click here to speak with an agent today!
Contact the Experts for All of Your Buying or Selling Needs
Whether you want to buy or sell a home, having an expert Redbud Group RELATORS® on your side can make all the difference. The bottom line is that you want someone at your side who will fight hard for what you want and need. That’s what Rebud one-of-a-kind agents are all about!
Here at The Redbud Group, we are proud to have some of the top-performing real estate agents in the Carolinas. We provide each of our agents with the latest housing market knowledge they will need to help you buy or sell a home promptly. Our goal is and has always been to create great experiences for our clients — during your buying or selling process and beyond.
If you’re ready to begin your buying or selling journey, click the button below to contact us
and get connected with one of our incredible agents.