Charlotte Real Estate Market Report Q1 2016

Home buyers are living the reality of the-double-edged-sword with a steady rise in home prices and a serious decline in inventory, leaving many with the inability to get into the market. Buyers are finding themselves in multiple-Offer situations as well, leading to great frustration.

Our best advice – hang in there! ’Tis the season for home shopping AND home selling! Sellers are prepping their homes for the market so, don’t be weary – we’ll be introducing quite a few new listings in the upcoming weeks and months.

Although new listings in the Charlotte region decreased 0.2% to 5,582, pending Sales were up 20% to 4,864. Inventory levels fell 27.8% year-over-year, to 10,145.

Prices continued to gain traction. Median sales price increased 3.7% to $198,000. More good news for sellers – inventory (months supply of homes) was down 36.4% to 2.8 months. As you can see by the graph below, the inventory is at its lowest point in at least 12 years.

Housing is strongly impacted by the local economy. Whether you’re coming from Seattle, Palm Beach or anywhere in between, we are here to guide our buyers through this crazy market! With positive employment, increased wages and local job availability, the influx of new residents continues to rise and the housing situation continues to be difficult for buyers to navigate the process.

Q2 will, without a doubt, be one of the strongest sellers’ markets ever. Demand continues, as does the lack of inventory – a sellers’ dream! If you’re thinking of selling your home, we would highly recommend beginning the process sooner, rather than later!

*Data provided by CMLS is deemed reliable but, not guaranteed.

We won’t even get into the outrageously priced rental market that many buyers are finding themselves ‘stuck’ having to settle for a rental until their dream home comes available. New construction can’t keep up with the demand in the hot areas either!

Need help navigating buying or selling or know someone who does? We’re here to assist you, your family or your friends! Give any of us a call, text or email – (704) 491-3310 or Info@TheMaxwellHouseGroup.com