Dilworth Charlotte Real Estate Market Report OCT 2013

How’s the market doing in Dilworth?

Everywhere you turn, the talk of the town is whether the Charlotte housing market is improving or if the slight rise in mortgage interest rates has sparked a slow-down in the market . This time of the year, it’s truly difficult to determine what is guiding the market–either the typical seasonal reduction in sales or stabilization in the marketplace. Either way, we’re seeing a bit of a slowing market but, I’d prefer to refer to it as simply, stabilization.
Because we are asked this question on a daily basis by our Dilworth home sellers, we decided to pull seasonal data that will reflect a monthly analysis compared to the previous year and two years prior (during that same time period).

Let’s compare the trends of the Dilworth Charlotte real estate market.

First, let’s compare the inventory of available homes in which buyers have to choose in the Dilworth community over the past 2 years. In 2011 there were an average of 153 homes for sale in Dilworth during the period from October, 2010 through September, 2011. In 2012 there were 83 homes for sale during that same time period. Last month (2013), there were 54 homes for sale in Dilworth. That is a reduction of 64% of available inventory in two years.  

Next, the average sale price of homes in the Dilworth community for October, 2010 through September, 2011 was $347,929. During that same period in 2012, the average sale price was $410,400. Last month (2013), the average sale price was $447,788, an increase of 27.1% in the average sale price for Dilworth homes sold.

Lastly, how’s the market absorption trend for the Dilworth community? From October, 2010 through September, 2011, there was a 13.8 month supply of homes for sale in Dilworth. During that same period in 2012, there were 6.7-month supply of homes for sale and in September 2013, the supply of homes for sale in Dilworth fell 48% to a 3.5 month supply.
The market absorption trend is key to monitoring the stability of the market and during the past 18 months, we’ve seen Dilworth exit the recessionary period and most recently, over the past couple of months, seen stabilization in the community.
The recent slowing, in our opinion, is merely seasonal as we are still serving buyers looking to land their dream home in this popular historic Charlotte community.

Thinking of selling your Dilworth home? Give us a call at (704) 491-3310. We not only sell homes in the community, we own property in Dilworth so, we know the area like the backs of our hands!

Thinking of relocating to Dilworth? Visit Charlotte’s exclusive home search site – up-to-date listings at your fingertips!