On February 2nd the groundhog predicted an early spring. Y’all didn’t realize that he isn’t just predicting the weather, he is also predicting the real estate market! Yes, spring has come early this year, and the spring selling season has already begun.
The market is already in full swing, and our team is feeling it. Low supply and high demand continue. We are already seeing multiple offers, once again creating what seems to have become the usual spring frenzy. We are keeping a very close watch on the market for our buyer clients. When great houses come on the market, priced fairly, they sell quick. Our goal is to find those buyers the right house, and ultimately to help them make a smart decision. Right now, that means acting fast!
If you are thinking about making a move this spring, we know you might be feeling the pressure and overwhelmed. Just remember that we’ve worked with many clients just like you, and we’ve got a plan to help relieve that pressure and help you make that smart decision.
This week we’ll be sending out our E-newsletter and publishing the market stats for January. You can view these stats on our website here: http://www.wrealtygroup.com/market/stats/ Comparing single family home sales in Mecklenburg County for that month compared to the prior month and one year ago, here’s a quick summary:
- Homes sales are down 27% from last month (typical seasonality), but up 9% from last year.
- Average home price is down 3% from last month, but up 13% from last year.
- Median sales price is down 3% from last month, but up 13% from last year.
- Price per square foot is down 2% from last month, but up 9% from last year.
- Time on market is up 9% from last month and 2% from last year.
- Pending sales are up 30% from last month and 7% from last year.
- Supply is up 9% from last month, but down 19% from last year.
- Mortgage rates at 3.62% are down slightly from last month, but down from 4.46% last year.
- Average house payment is down 5% from last month, but up 1% from last year.