June Market Update: Charlotte
As the month of June comes to a close, we’ve seen Summer officially kick into gear! With warm weather in full swing, the Summer real estate market is already upon us. While we’re excited for the arrival of July, let’s not forget to recap the changes seen in June! We have summarized the key trends of Charlotte’s June real estate market for you. Knowing these facts can ensure you can make well-informed decisions and stay in the know!
The Hard Facts: Charlotte Market
- The current median sold price of a home is up by 4.9% from this time last year, an increase from $245k to $275k
- The supply of available homes is up 2% from this time last year, with a change from 23,179 to 23,647 homes
- A home’s average days on market is down by 5.4% from this time last month, with a slight drop from 48 to 45 days
What Does This Mean For You?
We’re living in what experts are calling the “Bargain Belt” – the Southeast is showing some dynamic growth, but the cost of living is still relatively low. Industries continue to relocate to Charlotte which brings a natural influx of homebuyers; this trend shows no sign of slowing down anytime soon.
Buyers, with the BB&T and Suntrust merger, Charlotte is about to see an explosion of buyers and some fast growth. Even though there will be an increase in competition, don’t worry! The inventory of available homes has increased, which means more options available to you in your search for the perfect home. So start searching today!
Sellers, the average days on market is lower than last month and the average sold price is up, which means higher return on investment. Timing is everything, so now is the perfect time to jump in on the Charlotte real estate market before the school season starts again in the Fall!
No matter what chapter of life you’re in, if you are looking to sell or buy a home, make sure you are represented by a professional, full-time agent with years of experience under their belt.
Thinking about moving? Navigating the real estate market can be difficult, and you don’t want to do it alone. At Mark Spain Real Estate, we are here to help! Contact us today to get a head start.