April 18th, 2017
Signs of a Strong Charlotte Real Estate Market Ahead: Part Three
For the past two weeks we have been discussing in our blog the different statistics pointing toward a positive future for the Charlotte real estate market. This is the third part of the three part blog series about what residents and agents in the Charlotte area can expect regarding the local real estate market and trends.
“A housing market is certainly robust if prices are increasing,” said Jeff Adams, President of Helen Adams Realty. “Seller’s prices are firm and more and more buyers are out in the market place looking.”
This confidence can be shown in the graph below which tracks the number of showing by price range for our entire MLS system. For the 3 months ending February 2017, showings in our MLS system increased a promising 22.1 percent from this same time period ending February 2016.
The Achilles heel to continued strength the Charlotte real estate market, according to Adams, is whether the supply of homes can keep up with demand. When looking at the graph above recording showing times, you can see that the demand is clearly there which signals more strength for our area’s future in real estate.
However, Mike Thornburg, Broke in Charge of Helen Adams Realty’s Lake Norman office, says “make no mistake – the home selling market is not a chicken or the egg proposition. We must have homes to sell to make a market”.
The chart below explains that the number of inventory of homes for sale in our market has declined to 31,425 units for sale as of February 28, 2017 compared to 36,128 units for sale February 29, 2016 and an even sharper decline from February of 2015. In other words, Charlotte real estate market needs more homes to sell to satisfy demand.
The information presented in the past three blogs should be encouraging news to home owners who have been on the fence about listing their homes. In the Charlotte real estate market, the demand for residential homes is on the rise which should indicate less days on the market and multiple offer situations for sellers.
If you or someone you know is interested in selling their house, now is the time to call a skilled real estate professional at Helen Adams Realty. Our real estate agents are able to answer questions and give a market analysis of the area’s real estate trends. With high demand for homes and the positive statistics we’ve discussed, now is the perfect time to list a home.