As a Realtor in Charlotte, North Carolina in April, there’s not much time for blogging. The spring selling season is on and homes are selling quickly. After years of evaluating the seasonal trends, it is clear that sales and prices generally peak in June or July from contracts written in April and May….or right now! Its no surprise that the market in Charlotte is busy right now. Lack of supply is still a big challenge and as agents representing buyers, we are having to get creative around finding inventory. And when a well prepped, well priced home does hit the market, buyers have to be ready to market themselves to their potential sellers because the seller often has several buyers to choose from! Quite a role reversal from 2009-2013. Interestingly, overpriced homes that aren’t properly prepared for market can certainly be the exception. As a seller, it still pays to be realistic.
This week’s E-newsletter will report the sales for Mecklenburg County Single Family Home Sales Stats in March as compared to the prior month and the prior year. Here’s a summary:
- Home sales are up 35% from last month and up 2% from last year.
- Average sales price is up 15% from last month and up 3% from last year.
- Median sales price is up 13% from last month, but down 4% from last year.
- Average price per square foot is up 4% from last month, but down 2% from last year.
- Average time on market is down 9% from last month and down 20% from last year.
- Pending home sales are up 11% from last month and up 7% from last year.
- Housing supply is up 9% from last month but down 16% from last year.
- Mortgage rates remain stable from both last month and last year around 3.6%.
- The average house payment is up 14% from last month and up only 1% from last year.