The beginning of August typically marks the beginning of seasonality in our market. When school goes back in session, there are a lot fewer buyers and sellers in the market. This natural market cooldown occurs before the actual seasonal change. Shrewd consumers know that deals can still be made well into the school months.
Here are a few important statistics to know from the most recent Charlotte Regional Realtor’s Association Report:
- New listings are up 6% in the Charlotte region.
- Pending sales increased 15.5% to 4,753.
- Inventory shrunk by 18.6% to 10,153 units.
- The median sale price is up 5% to $230,000.
- The months’ supply of homes is down 23.5% to just 2.6 months.
“The whole of residential real estate is in good shape.”
These prevailing trends lasted through the summer because there hasn’t been any major change in the economy that would affect housing. Factors such as wage growth, unemployment, and mortgage rates have remained very stable. The whole of residential real estate is in good shape.
If you have any questions for us about the Charlotte market or anything else relating to real estate, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.
