Everything to Know About the Charlotte Housing Market

Charlotte real estate has been in a consistent seller market for quite some time, and that doesn’t seem like it’s going to be changing anytime soon. With Charlotte being the largest, and fastest growing, city in the state of North Carolina, it’s no wonder why the demand for housing continues to increase — as young professionals are eager to plant their roots in the Queen City. 

 

With hefty price tags on homes, paired with suboptimal inventory rates, house hunting can seem impossible. However, all hope is not lost! With the expert help of a Redbud Group REALTORS®, you and your family could become Charlotteans in no time! 

 

Continue reading to learn more about the current state of the Charlotte housing market and what you can expect if you plan on buying or selling your home shortly. 

 

Charlotte is among one of the fastest-growing cities in the country and is currently sitting at 903,211 residents. Between prolific nightlife, quaint shops and restaurants, and opportunities for professional development in the metropolitan area, there is no question why so many people and businesses are moving to the Charlotte area. 

 

However, with more people comes a higher demand for homes. Let’s discuss what you can expect if you plan on entering the Charlotte housing market. 

 

Finally, there is some good news for homebuyers! Prices of homes for sale in Charlotte are down nearly three percent from where they were in June — with the median sale price of homes sitting at just below $400,000. Although prices are slowly but surely decreasing, you should still consult with a lender as soon as you decide it’s time to buy a home. Making sure your finances are in order should be your top priority before entering the housing market, and having a trusted lender on your side can help you avoid roadblocks on your buying journey.

 

Related: How Much Can I Afford on a Home?

 

Inventory in the Charlotte area is slowly increasing. The number of homes for sale in the Charlotte area has increased nearly 24 percent year-over-year — which is great news for home buyers. With more inventory, you’ll have more homes to choose from and a higher chance of finding the perfect property that checks off all of your boxes. However, despite these increases, you will likely run into competition once you find the home of your dreams. This is one of the many reasons why you should consult with a local agent and lender when you decide to enter the market. 

 

The current market is exhausting homebuyers — and we understand why. Entering a market that isn’t necessarily in your favor can be disheartening and scary, however, it’s important to know that you are not alone. The best way for you to navigate your real estate journey is to hire an expert real estate agent who can walk you through your entire home-buying process. 

 

 

Trent Corbin, Founder of The Redbud Group, stated “We are not seeing a huge spike in listing volume, meaning the supply-demand imbalance is not materially changing — which suggests continued strength for home prices.”

 

If you’re planning on selling your home, the time to list is now! Low inventory rates, in conjunction with an increased urgency to buy, provide the perfect opportunity to earn maximum equity for your home. However, this won’t be true forever, so strike when the iron’s hot!

 

To get the most out of your selling experience, you must work closely with a trusted real estate agent when pricing your home. Your agent will be able to guide you on listing your home at a price that both you and potential buyers, will feel comfortable with. Working closely with a real estate agent while listing your home in a seller's market will ensure that your home sells quickly and for the best price! 

 

Whether you’re buying or selling a home, you must consult with an experienced real estate agent. Not only can an agent help you navigate the ever-changing world of real estate, but they will work closely with you to truly understand your wants and needs. Here at The Redbud Group, our agents pride themselves on providing an easy, stress-free, home-buying or selling experience to our clients. 

 

If you, or anyone you know is interested in buying or selling a home shortly, look no further than The Redbud Group! Use the button below or visit our website to connect with our team!