With the low months supply of inventory and few new homes being listed on the market, a rise in sales price is fairly predictable. Across the nation, there has been a steady and constant increase in home sale prices. They are rising the quickest they have in approximately three years, and Charlotte as a whole still has these nationwide numbers beat.
Mortgage rates are also higher now than compared with those of a year ago, and this, coupled with higher home prices, may eventually temper the heightened demand for housing in Charlotte. Currently, homes seem to sell almost as soon as they are listed, so buyers will want to act quickly when they find a home they are interested in.
Charlotte definitely has a seller’s market on its hands, with low inventory, rising home prices, and a surge in home sales. For more details and info on what this means for home buyers and sellers alike, be sure to take a look at the full article at CharlotteObserver.com.