What’s happening in the Charlotte housing market?
While we continue to be in a strong sellers’ market, changes seem to be on the horizon! The good news is forecasts show home prices will continue to appreciate over the next 5 years, the Ballantyne area generating an increase of $148,000 on top of the $216,000 increase in the average amount of equity from 2020 to 2021. (KCM)
Our area is continuing to see a gradual increase in sales; throughout the summer we have been seeing a slow week-over-week increase in inventory, with a 10.1% increase month-over-month in June. (KCM)
Time listings stay on the market continues to decrease, down 65.8% since 2020 to an average of 13 days. This is a significant change even from earlier this year. In comparison, in March 2021 the average days on market was 25. Percent of original asking price is also increasing, Buyer motivation continues to be strong, with listings closing at 102.1% of original asking price, up 4.6% from 2021, compared to March at 100.1% (Canopy)
If you do decide to list your home, strategically preparing and marketing your home is essential, even in this pandemic-fueled market. Recent market research found that the day to list your home for sale is on a Thursday as homes are more likely to sell above list price and faster on Thursdays than any other day of the week. (Zillow)
Curious what your home is worth, or would like to learn about your options in this current housing market? Reach out to us today!
