Here are the latest numbers and news in Charlotte real estate.
The latest data is in for the Charlotte real estate market, and I’m here today to break it all down for you.
Let’s start with the average number of offers received per home. As you can see at 0:23 in the video above, the number of offers has fallen a little from its peak in April 2021, but it’s way up from where it was in 2017. This is the national average too, so you can bet that the average in Charlotte is higher.
Is the market softening? At 1:00, you’ll see a measure of our inventory levels from January 2011 to January 2021. Back in 2011, we were up around 9.5 months of inventory, but now we’re back down to 2.6 months. If you’re thinking about selling, this year and next year will give you a pretty good window.
If you’re a buyer, are homes affordable compared to the past? Historically, the percentage of your income that you’d need for a mortgage payment is around 21.2%. Over the last few months, we’ve seen that number rise from 14% to around 17%.
For everyone who thinks the market is softening up, take a look at the percentage of homes selling over list price. Nearly half of all homes that are sold are selling over list price, and if you list and price your home correctly, yours will too.
If you think the market is still softening, I invite you to check out those charts in the video again. If you still have questions or need anything at all, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.