Housing Supply Home Prices And More

Housing Supply Home Prices And More

A Real Estate Market Update  Imagrecent home sale in Davidson

So you thought the market was tight, not a lot to choose from? It got tighter in May.  Housing inventory, the number of units to search went down 22.9% in May with Closed sales up 20% but New Listings up only .3%.  The strongest sales gains, by property type was in Condos, up 21.4%; in price point, it was the above $300,000 category, and in home size, it was 4 or more bedrooms at up 18.5%.  

 The broad Charlotte real estate market  saw strong gains in May, with units sold up 20% YOY and median sale price increase of 8.1% compared to May, 2014, so says the latest data from the CarolinaMLS.  Lets look at a little more detail

Region Sold Units % Inc/Dec Median Sales price % inc/dec Inventory
Mecklenburg County +15.8% +2.4% -30%
Union County +25.9% +3% -21%
Cabarrus County +18.2% +11.4% -27.7%
Iredell County +21.4% +5.8% -14%
Gaston County +37% +10.3% -23.6%
Davidson +41.2% +13.4% -18.8%
Huntersville -5.7% +9% -33.4%
Waxhaw +9.8% -3.2% -18.9%
Lake Norman +21.1% -10.3% -11.7%


All this is to say that all real estate is local! If you here a national report good news or bad, well ok.  Then you hear positive citywide data, that's good too. But it is the local, typically the very local that matters most to you, "How are things in my neighborhood?" and that is where good to great realtors come in, giving you an accurate estimate of sales price on your house. 


So how do you find that great real estate broker? Is he or she the one who lists most of the homes in your neighborhood?  My experience is that in many cases, deep familiarity of a specific  neighborhoods leads to fast sales, but not necessarily the highest prices.

Get your free home valuation here, or for a more detailed report,  just call Terry at 704-390-6221


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Phone: 704-351-0978
Dated: June 28th 2015
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About Admin: I work with the agents and clients of the McDonald Group to ensure an on-time and on-budget closing!...

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