Charlotte’s residential real estate market experienced a significant rebound in values over the past half-decade. In fact, Trulia reports that homes are selling, on average, for 22.9 percent more than they did five years ago. However, in 2015, increases in selling prices have slowed considerably, despite a continued inventory shortage and low mortgage interest rates.
Real Estate Trends: Rising Interest Rates and New Technology
The Counselors of Real Estate (CRE) recently published a report that highlights trends that will impact the real estate market in 2015 and 2016. In part one, we looked at how demographics and urbanization affect the Charlotte real estate market. Now we take a look at some of the other influence factors. Higher interest rates… [Read More]
Real Estate Trends: Demographics and Urbanization
On June 24, 2015, The Counselors of Real Estate (CRE) released a report that discusses ten trends expected to impact real estate in 2015-2016. Here are four of the issues that the CRE highlighted. Changing demographics A generation of baby boomers continues to age and retire. Many downsize their living space. At the same time,… [Read More]
Charlotte Real Estate Trends for June 2015
As we enter the mid-summer season, it is worth noting that the two-year surge in home selling prices across the Charlotte area is slowing. For some time, double-digit price increases were the norm. After that, strong single-digit gains became common. Now, selling prices demonstrate little movement from one year ago.
Home Seller Perception Vs. Appraisal Reality: The Widening Gap
Quicken Loans, the second largest mortgage lender in the nation, maintains an exclusive statistic that monitors the gap between homeowner and appraiser perception of value. The Home Price Perception Index (HPPI) gives those in the real estate marketplace a glimpse at how much appraisers think homes are worth compared to subjective homeowner valuations.
May Real Estate Trends: Charlotte Home Prices Continue to Rise
The median home value in Charlotte is $157,800, which marks a 5.1% increase from the previous year. Home prices have appreciated by about 28% over the past five years. Median home sales prices, however, are considerably higher. In May the median sales price was $208,000. The market for 2-bedroom and 3-bedroom homes in Charlotte is… [Read More]