Charlotte NC Real Estate Market Report - January 2013
The real estate market in Charlotte NC continued its steady improvement last December, signaling perhaps the beginning of the real estate market recovery in the Queen City.
As my Charlotte NC Real Estate Market Report for January 2013 shows, virtually all market indicators point to a continued recovery. If employment gains continue as confidence in the economy rises, we can expect to see continued improvement in real estate in 2014.
Here are the most important Charlotte NC market changes from December 2011:
- Closed sales in December 2012 increased by 23.4% over last year to 2,339 sales
- Average sales price increased 7.9% from December 2011 to $205,537
- The price range with the largest gain (38.5%)was sales in the $200,001 to $300,000 range
- Pending sales increased 33.7% from a year ago to 2,150 contracts
- Months supply of homes for sale DECREASED to 5.3 months worth of inventory, signaling a seller's market, even in this season of typically lower sales.
- Total active listings DECREASED by 27.7% to 13,415 homes for sale, the lowest inventory in over a decade
- The property type with the strongest sales: condos, where there is currently only a 4.9 month supply
Click on the image below to access my full report:
What does this Charlotte real estate market data mean for buyers and sellers?
If you're thinking about buying a home for sale in Charlotte, NC, you can expect home prices to be a little higher than they were last year. It is no longer a buyer's market, because demand far surpasses supply at the present time. I've had buyers in multiple offers 5 times since last May; two of them had to pay over list price to get their dream home!
If you are thinking about listing your Charlotte home for sale, you may think that Spring is the best time to sell. While sales are more robust in the spring and summer, you should consider listing your home NOW and beating the competition. There are many buyers out there who are frustrated with the low inventory. If your home is priced right and in top condition, it WILL sell!
South Charlotte Real Estate Expert
I am proud to share my Charlotte NC real estate market report for January 2013. My primary business focus is South Charlotte, but I list and sell homes all over Charlotte and in SC as well. If you are thinking of making a move in 2013, please call, text or email me. My goal is to be a great real estate advisor to you, whether you are buying or selling, and I'm interested in hearing about YOUR goals and dreams! It's an exciting time in Charlotte real estate!