Charlotte Update: Building Momentum in February

February has always been an underrated month! Undercurrents of what can be accomplished in the year always take hold in February. You need to look just below the surface.  What do you hear from everyone you speak with?  Something to the effect of “Spring is on the way; I am just tired of the cold!!”  But what is really happening is people are in their rhythm and taking the steps needed to make it a great year.  There is something rewarding about seeing the goals that were set in January take root and start to grow in February.  The changes you hoped to plan around New Years are starting to become habit, and February is when you start to see some of the glimmers of change!

Just a few days ago, as I walked my dogs, I saw my first green Daffodil buds cracking through the surface next to a neighbor’s mailbox.  To me, that is the essence of February.  You must look hard to see it, but February can encourage you to keep going. 

I encourage you to look below the surface over the next few weeks.  See what you can notice.  When the doldrums of February hit, and you say to yourself “Where is Spring?  I am tired of all this cold and wet, and grey,” just keep pushing and let February do its thing.  February is only 28 days and if you stay the course, you will be rewarded by your efforts, even if you must look a little harder than usual.

I have been embracing February this year.  My family has seen changes that are big!  Career changes, new business ventures and kids no longer living at home.  It has been exciting and nerve wracking all at the same time.  A new normal is settling in around my house.  The changes have made it important for me to stay consistent.  Like February.  I have needed to stay consistent with my daily activities to make sure I have been moving toward my long-term goals for the year.  That is the gift of February.  It allows you to find your rhythm of the year and get the goals set in January moving in the direction of success for the year. Finally, lets take a quick look at the real estate market here in the Charlotte region.  January followed its cyclical path with less transactions which is normal for the month.  But I would guess that we are ramping up to another very active spring season in the area, as the Charlotte market continues to see low inventory and high demand.

This week we’ll send out our E-newsletter including the stats for Mecklenburg County single family sales comparing December stats to the previous month and again to the same month last year. Here’s a sneak peek:

  • Home sales are down 27% from last month and nearly even compared to last year.
  • Average sale price is down 5% from last month and up 19% from last year.
  • Median sale price is down 1% from last month and up 20% from last year.
  • Average price per square foot is up 1% from last month and 24% from last year.
  • Average time on market is up 17% from last month, but down 4.5% from last year
  • Pending home sales are up 7% from last month and down 7% from last year.
  • Supply is up 4% from last month and down 15% from last year.
  • Mortgage rates at 3.45% are up 11% from last month and up 26% from last year.
  • Average house payment is down 0.6% from last month and up 30% from last year.

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