This past week our listings saw an average of 1.2 showings each. That number seems low but in comparison to the last few holiday weeks, it is a huge increase. Just in the past few days we’ve seen a nice influx of showing activity. All factors that I have seen, read about, and experienced directly point to a solid 2010 for the Charlotte real estate market.
Next week I will publish my monthly E-Newsletter where I report the real estate stats for the prior month in Mecklenburg county. The numbers for December 2009 are in and they are very encouraging. Although the differences month over month are small, every indicator shows that the market is back on a upward path. Here is a brief summary of the December market stats:
Home sales are up 28% over this time last year.
The average sales price is up a whopping 12% over this time last year.
Average time on market is up from last year but holding steady since the prior month.
Pending home sales are up 23% from last year.
Housing supply is up from last year, but down since the prior month.
Mortgage rates are still well below where they were this time last year, but rising steadily.
In most areas of town, it is still a buyers market. But as I discussed in my blog last week, that is changing. Over the past 6-8 months there truly has been no better time to buy real estate. That window of opportunity is closing. Its an exciting time for both buyers and sellers. Buyers can get a great deal with a super low interest rate right now. But sellers, your day is coming. It will give me great pleasure to sit regularly with my seller clients and once again be able to tell them that we are experiencing a seller’s market. That day is coming sooner than you might think.