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Market Updates Charlotte, North Carolina And the Surrounding Areas
Cunningham & Company’s
The Vitals:
Monthly Mortgage Update
A look at Charlotte’s Improving Market. • The number of new listings in our area has decreased 10.1% from this time last year. With a lower selection of inventory available, buyers are finding themselves in multiple offer situations, and sellers are finding more power in the market. • The inventory of homes for sale is also down 6.2% from this time last year, again driving the market to favor sellers over buyers, driving home prices higher than they have been in months past.
Wondering what kind of mortgage might be best for you and your home search: • NC FNMA 97% HFA Preferred Program is designed to help lessen the burden of down payments. • If you’re thinking new construction might be right for you, check out an extended rate lock loan option. • Home renovation loans are available to help finance your fixer upper homes!
Contact our partners at Cunningham & Co. today for more advice on mortgage and home financing! 4.6
• The trend continues to hold that condos are the
4.4
property with the strongest sales, up 20% from
4.2
this time last year. With a large uptown living scene, we are not surprised that this area of the market continues to maintain great sales numbers.
4.46
4.49
4.46
4.37 4.19
4.43 4.3
4.26
4.07
4 3.8 3.6
3.53
3.57
3.54 3.45
3.4 3.2
• Sellers are, on average, receiving 94% of their
3 Feb.13 Mar.13 Apr.13 May.13 Jun.13 Jul.13 Aug. 13 Sept.13 Oct.13 Nov. 13 Dec. 13 Jan. 14 Feb. 14
original listing price at closing. This is a great sign of the upswing in the market, meaning more sellers are coming out on top, as opposed to paying out at the closing table.
Monthly Market Snapshot -8.4%
+0.8%
-10.1%
+5.7%
-6.2%
-1.4%
-15.1%
(1)
Change in closed sales
Pending Sales
Change in New Listings
Average Sales Price
Total Active Listings
Average Days List to Close
Months Supply of Homes for Sale
1,877
2,803
3,907
$206,384
14,021
145
4.9
(2)
(1) Data Represents change in data since this time last year. (2) Data Represents the most recent month’s data for CMLS.
April 2014 | 21