Market Shifts Dramatic in December

Market Shifts Dramatic in December

Most local real estate markets become Sellers markets

As 2012 came to a close, many of us Agents felt the year end rush, the fewer quality homes on the market, and in some cases multiple bid situations.  Inventory is very low, and that is good news for Sellers considering putting their home on the market this spring. 

A year ago, most of these categoris showed anywere from 8 to 15 months of inventory... not so any more, see below

Charlotte Real Estate   December 2012 Price Range

Price Range # of Sold # of Active Months of Inventory Market
$0-100K 250 537 2.1 Extreme Sellers Market
$100-200K 550 1380 2.5 Extreme Sellers Market
$200-300K 336 1185 3.5 Normal Seller's Market
$300-400K 183 723 4.0 Normal Seller's Market
$400-500K 71 403 5.7 Normal Seller's Market
$500-600K 33 217 6.6 Balance Market
$600-700K 29 172 5.9 Normal Seller's Market
$700-800k 15 124 8.3 Balance Market
$800-900K 14 98 7.0 Balance Market
$900-1M 21 69 3.3 Normal Seller's Market
Over $1M 17 237 13.9 Extreme Buyers Market

  So 52% of the homes sold in December were under $200,000, 75% under $300,000. This  reflects the relative affordability (Average Charlotte income of $52,000/yr)  in the market, and the power of low rates among home buyers.

Market Key

12+ Months of Inventory Extreme Buyers Market High Depreciation
9-12 Months of Inventory Normal Buyers Market Moderate Depreciation
6-9 Months of Inventory Balance Market Flat/slight Depreciation
3-6 Months of Inventory Normal Seller's Market Moderate Appreciation
0-3 Months of Inventory Extreme Seller's Market High Appreciation

 You can cross check your zipcode at the full report

Related posts

Lake Norman Market Report- November

How Much House Does $1100 per month BUY? - a 40 year history- CRAZY low rates!

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Dated: January 17th 2013
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