Fall Real Estate Forecast
Should You be considering selling, all the indicators show that it is still a great time to sell you home. In my personal experience, Sellers seem to still seem to get a little more for their homes in the Fall through Winter season. There are serious buyers out there who need to move and the season is ripe for great negotiations due to lower inventory.
Every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling -
- Showings are still on the increase
- Limited number of desirable listings
- Mortgage Rates are still enticingly low
- Home prices as unaffordable for fist time home owners
- More owners are less interested in moving
- New Listings were up in the Charlotte region 3.3 percent to 4,700.
- Pending Sales increased 16.4 percent to 4,137.
- Inventory shrank 17.5 percent to 10,140 units.
- Prices moved higher as Median Sales Price was up 9.2 percent to $225,000.
- Months Supply of Homes for Sale was down 24.2 percent to 2.5 months, indicating that demand increased relative to supply.
Last year at this time, the national storyline was about how high demand was propping up sales and prices despite low inventory and months of supply. That has actually continued to be a familiar refrain for many months in 2017 and now for the past couple of years. But with the likes of Hurricanes Harvey and Irma, different employment outlooks, disparate incomes, varying new construction expectations and potential housing policy shifts, regional differences are becoming more prevalent and pronounced.
Current as of October 5, 2017. Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. All data from CarolinaMLS, Inc.
Report provided by the Charlotte Regional Realtor® Association. Report © 2017 ShowingTime.
See the full report Below