Hope is on the Horizon for Charlotte Home Buyers and Sellers
Homebuyers in Charlotte, North Carolina have dealt with a persistent sellers market for some time now. Unfortunately, many people fear entering this market where there is low inventory, rising prices, and increased competition among buyers. However, the ebb and flow of the housing market allows for things to gradually turn around, providing a positive outcome for Charlotte homebuyers and sellers.
Though you’ve likely seen nationwide gloom when it comes to the housing market, fear not. We are already seeing a shift in the market that will benefit both buyers and sellers in Charlotte. Continue reading to learn all about the Charlotte housing market and what to expect if you plan on buying or selling shortly.
What Buyers Need to Know
Charlotte, North Carolina is one of the hottest real estate markets in the U.S. With new developments always in the works, the Queen City is a hub for families and businesses to flourish. However, the constant migration of people causes the housing market to be hectic, and competitive among buyers.
Competitiveness and Price Increases
In today’s market, people are so desperate to plant their roots in Charlotte that they’re willing to dig deep into their wallets to make it happen. This month the average sales price for a home in Charlotte is around $475,000, which has increased from last year’s average of $350,000 — a 35 percent increase.
This price climb doesn’t seem like it’s going to stop any time soon. That’s why it’s crucial that you speak with a lender and prioritize your finances sooner rather than later when you decide it’s time to buy your dream home.
Inventory of Homes for Sale
The good news is there are homes on the market, and inventory is increasing slightly month-to-month. So, if you’re looking for a home, you’ll have plenty of options to choose from. New listings in Charlotte have increased to nearly 6,000 homes this month (almost 1,000 more than last year at this time) — providing both buyers and sellers with an abundance of opportunity.
What Sellers Need to Know
Currently, we are in a seller's market. This means there are many interested buyers, but not enough active homes for sale in the area. This provides an opportunity for sellers to have multiple buyers interested in your home at once — which in turn results in a quick transaction. Additionally, being in a seller's market allows you to wait for the best offer to come your way, so you can make a maximum profit to put towards your next home!
What Will My Home Sell For?
As we mentioned above, homes in Charlotte are selling for a pretty penny. The current market allows for many sellers to earn maximum equity by selling their homes, especially if they work with a local, expert, real estate agent. The average percent of the original price, which is the ratio between the starting and selling price, of homes in Charlotte is currently sitting at 102 percent. So, if you’re thinking about selling your home, now is the perfect time to do so.
Should You Sell Now?
Short answer, yes. You should consider selling your home in today’s market. While inventory is slowly increasing, there is still a need for homes for sale in the Charlotte area. This provides the opportunity for you to earn maximum value for your home, and receive an abundance of offers in a short amount of time. Selling can be made even easier if you work with an experienced real estate agent in your area!
Need a Real Estate Agent? Look No Further Than The Redbud Group!
When it comes to buying or selling a home, one of the best things you can do is to hire an experienced real estate agent. After all, nothing makes the process feel more seamless and stress-free than having a seasoned local agent by your side to answer any question you may have.
When you choose to work with The Redbud Group, your real estate agent will guide you through the home buying or selling process (or both), and advise you on the best course of action. But that’s not all — we will also connect you with our preferred lenders, cleaners, and contractors to help make your selling or buying process a breeze. Click the button below or visit our website to be connected with one of our expert agents!
