As Confidence Builds, Charlotte Housing Market Gains Momentum

Charlotte, NC – Local experts are predicting a stellar year in Charlotte housing market in 2015. Right out of the gate, January and February’s numbers reflected this very prediction in 2015 and March pending sales indicate that Q1 2015 will be one of the best ‘first quarters’ in years.

How does the data stack up in 2 of the areas largest markets?

Charlotte homes remained on the market a median of 39 days in February
Matthews Days on the Market in February averaged 65 days
Charlotte’s average home sales price in February $241,353
Matthew’s average home sales price in February $253,114
Both Charlotte and Matthews averaged 94.8% list-to-sales price ratio in February.

In Mecklenburg County (both Charlotte and Matthews areas), the average sales price has risen from $230,505 – a nearly 4% increase year over last year’s February.

Contributing factors for the surge in real estate sales, including new construction are

A strong economic outlook by those living in the area and moving to the area
Over 30,000 jobs created in the Metro region during the past 12 months
Low inventory, leading to a stronger ‘new-build’ market (new construction numbers are soaring this year)
Sub-4% interest rates, including jumbo loans – formerly unheard of in the jumbo market.

Here are the sales, new listings and pending property activity in Charlotte, February, 2015

(Data provided courtesy of CMLS, deemed reliable but, not guaranteed.)

As quoted in the Charlotte Observer article this morning,

“Buttressed by the area’s dramatic economic bounce back from the depths of the recession, Charlotte’s housing market will continue strengthening in 2015. Additionally, while mortgage rates are still low by historic standards, they’re not the driving force of the market’s growth.”

Source: www.charlotteobserver.com

Savvy Sellers average far higher list-to-sales price ratios – visit www.iCharlotteRealEstate.com for more information on our marketing abilities for our sellers. This article is great news for the Charlotte region!

See on Scoop.it – Charlotte Real Estate