This is an incredible time in the housing market for Charlotte home sellers. Today, Charlotte home sellers are prospering due to market forces heavily in their favor. Indeed, this is the best market for home sellers in decades with sellers getting top values for homes. There is a severe shortage of home inventory in the Charlotte market and there are just not enough homes available to satisfy buyer demand. Charlotte area home inventory is at a record low…the lowest level in decades. During the Great Recession just a few years ago there were 15 months of home inventory on hand. Currently, we’re down to 2.5 months. Six months of inventory is the measure of a balanced market.
The supply of Charlotte area homes is down 26.5% from one year ago and an astonishing 49.2% from the year before (Buyers don’t lose faith…there are still significant opportunities in the new home construction and move-up luxury home markets). Just look at the graph below:
Let’s take another look from the “months supply” point of view. As you will see in the graph below, there are currently only 2.5 months supply of home inventory in the Charlotte market.
This is pushing Charlotte home values up, with the median sales price increasing 12% since this time last year. That’s a value increase of $21,000 on a $175,000 home over the past year! You may want to find out what your home is really worth HERE. You may be pleasantly surprised! You can also download any of our special reports and selling tips from the library of our Home Sellers website or request our Free E-book 14 Costly Mistakes When Selling for valuable tips and insights.
If you think this information is helpful, we invite you to Share This Page from the options below! Lastly, if you or someone you know may be thinking of selling, contact us at 980.237.8000 for a free, no obligation market consultation to discuss your plans, options, benefits and strategies of leveraging the sale of one home to acquire another.