As summer transitions into fall, Charlotte’s residential real estate market continues to experience modest price gains, numerous quick sales and a supply/demand ratio that often favors sellers. In September, new listings were up 3.2 percent, from 4,185 to 4,319. However, closed sales rose at a faster pace, up 6.1 percent year-over-year. In general, inventory is… [Read More]
Charlotte Real Estate Trends for July 2015
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.
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]
Pending Home Sales Spike to Nine Year High
Home sales are at their highest level in nine years according to a recent report from the National Association of Realtors. The Pending Home Sales Index, a measure of contract signings between buyer and seller, is a leading indicator of completed sales over the next few months. The index has been rising every month in… [Read More]