February Market Update: Charlotte
The month of February is reaching its end! As spring approaches, let’s not forget to pay attention to the changing Charlotte market! Mark Spain Real Estate has summarized the key real estate trends of the February Charlotte market so you can stay well-informed!
The Hard Facts
- Active inventory listings are down by 10% from the previous month
- A home’s average days on market is currently at 42 days, and down by 8% compared to last year from this time last month
- The number of units sold has increased 6% year over year
- The median sale price of a home is $262K, an increase from last year’s sale price of 230K
What Does This Mean For You?
The decrease in active inventory listings in the Charlotte market means that buyers who waited to buy, may have had a smaller selection to choose from. This smaller level of inventory makes for greater competition between buyers to find their perfect home. However, the higher number of units sold could indicate that buyers have been easily finding exactly what they are looking for in a home!
Sellers, the lower number of days on market may signal a positive trend in the local inventory turn over rate. Also, the increase median sales price of home means that you may get a better offer on your home than in previous months!
Does the February Charlotte market update have you thinking about moving? Navigating the real estate market can be difficult, and you don’t want to do it alone. With Mark Spain Real Estate, you’ll get maximum exposure to your Charlotte home. Our team knows this city and surrounding neighborhoods and your experience is our top priority. Contact us today to get a head start.