Interested in learning more about the Charlotte housing market and the 3-month Absorption Rate? This is really just a fancy way of talking about supply and demand!
The table below provides an overview of home sale statistics in Charlotte NC for the last 3 months, or since February 21, 2010. The table shows the absorption rate and the average sales prices for homes in various areas in Charlotte.
What is absorption rate? Absorption rate is a very handy mathematical calculation that helps us understand supply and demand. The absorption rate tells us how many months it would take to sell ALL of the existing inventory on the market (assuming no new homes come on the market).
A balanced market between buyers and sellers is around 6 months. So currently in Charlotte, NC, we are still experiencing a buyers' market. That means that there are more homes for sale and buyers therefore have more to choose from. Serious home sellers in Charlotte need to make sure they are priced right and in tip-top condition!
If you are looking to buy a home in Charlotte, I'd be thrilled to help you on your journey! Likewise, if you would like to sell your Charlotte NC home, I am here to help, by providing you with accurate market data to help you sell your home quickly. Let me know how I can help you!