As I was watching one of the local news stations the other morning, there was an interesting segment on real estate in Charlotte that I thought was worth sharing. With so many news stories and articles being published providing such mixed opinions it’s difficult to determine what to believe. A local relator, however, provided some great insight that helps make those inconsistent articles a little more reliable.
For instance, is now a better time to rent or buy? Last week, in fact, it was reported that the price of renting has increased. While it seems obvious then that buying is the way to go, unfortunately the solution is not that simple. Less people are selling and with more people wanting to buy the competition is steep. This is definitely a reality that the real estate in Charlotte is facing. For example, in my neighborhood roughly 60 homes were up for sale last year, while this year the number has decreased by half.
Another interesting fact that was brought to the table is the amount of homes in the pending sales category. A pending sale, for those unfamiliar, is a real estate transaction for which a contract has been signed but that has not closed. The January statistics were just released that showed 650 homes in pending sale, compared to this time last year where 500 were pending sales.
What does all this mean, especially for the real estate in charlotte? Last year was what we consider a “buyers market,” where there were more sellers than buyers because low prices result from the excess of supply and demand. This year, it appears the roles have reversed - sort of. We’re not exactly in a “sellers market,” because of the increase in pending sales. The competition is greater than ever, and prices on the homes for sale are still relatively low, therefore, it appears we’re in a cautious buyer/seller market, or a happy middle ground.
For more information visit: http://astiles.wilkinsonandassociates.com/
Become a fan at: http://www.facebook.com/AnnStilesRealEstate
About Ann:
Ann Stiles is a real estate broker for Wilkinson and Associates. She began by selling homes in New York and has over 29 years of experience in real estate. After relocating with her family to North Carolina in 2008 she continued her passion for real estate. She currently resides in the Trump National Golf Club in Mooresville, NC with her husband and five children.
No comments:
Post a Comment