Inventory is down in the Charlotte market, so here’s what you need to do to have a good chance at getting the home you want.
Selling your home? Get a free home valuation
Buying a home? Search homes for sale on the local MLS
What’s been going on in the Charlotte market lately? Today we'll give you a quick breakdown.
Our supply of homes dropped 50% during the month of January. We went from roughly a fourth-month supply to a supply of just 2.4 months. A big problem for us right now is days on market because the average is only 13 days.
This being the case, it’s doubly important to be well-informed about the kind of property you’re searching for. To that end, a useful feature our team offers is a list of ‘coming-soon’ listings. This tool can allow you to be the first one to find out about a property that fits your needs so you can be the first one in the door. If you’d like to receive a copy of this list, just send us an email we’d be happy to provide it to you.
“
”
As far as mortgage rates go, there’s been some fluctuation since the election and the Federal Reserve raising funding rates near the end of 2016. However, they’re still holding pretty steady between 4% to 4.5%, depending on your loan product.
It’s crucial to be well-informed about the kind of property you’re searching for.
”
With our short supply of homes, the biggest problem people have is not being able to make an offer before the house they’re interested in goes under contract. If you’re a buyer, the best thing you can do for yourself is get pre-approved early so you have your pre-approval letter in hand and you’re ready to make an offer the instant you find the house you want.
If you would like to get pre-approved through Terry, you can reach him on his cell at (704) 267-4086 or email him at terry@fairwaync.com.
If you have any more questions about our market or have a topic in mind you’d like to see me discuss in a future video, please don’t hesitate to give me a call or shoot me an email. I’d be happy to speak with you!
