In today’s real estate market update, let’s compare the numbers from August 2019 to August 2018 to see how things have changed in the last year and what that could mean for our market’s future.

New listings: 

  • 2018—5,699
  • 2019—5,616
  • Net decline: 1.46%

Homes for sale:

  • 2018—11,416
  • 2019—9,916
  • Net decline—13.11%

Pendings:

  • 2018—4,300
  • 2019—4,796
  • Net growth—11.53%

“In combination with the fact that interest rates are historically low, we don’t see any market factors that will cause home prices to drop.”

Closed sales:

  • 2018—4,876
  • 2019—4,958
  • Net growth—1.68%

Median days on market:

  • 2018—13 days to sell
  • 2019—14 days to sell
  • Net growth—7.69%

Median price:

  • 2018—$245,000
  • 2019—$257,000
  • Net growth—4.9%

A lot of people have been asking whether we anticipate a bubble in the future. Well, as the number of new listings and homes for sale continue to fall, the rest of the numbers will continue to rise. And as Charlotte gets bigger, the demand for homes will remain, causing home prices to increase. In combination with the fact that interest rates are historically low, we don’t see any market factors that will cause home prices to drop.

Hopefully, this gives you some insight into the market and where we might be headed. If you have any questions or if you’re looking for a real estate team to help you buy, sell, or invest, reach out to the White Group. We’d love to help you.