Home Sales in Charlotte, North Carolina
Life in Charlotte, North Carolina, is always exciting. This vibrant city seems to always have new and exciting things happening. With new residential developments around nearly every corner, businesses coming to make their names known in Charlotte on a regular basis, and housing developments popping up in neighborhoods throughout the metro area, this is an exciting community to call home. When you own property in Charlotte, you get to experience this vibrant metro region on a regular basis, but when the time comes to sell your home, understanding the current markets is important. Timing the sale of your home strategically will help you sell more quickly and for a better price.
Timing a Home Sale in Charlotte, North Carolina
If you are ready to sell your home in Charlotte, you are probably wondering when you should jump into the market. What is the best time to sell a home in this current market? Should you list in the spring, wait until summer, or try to time it for fall before the holidays? The answer has less to do with the calendar date and more to do with what is happening in the current market.
Historically, Charlotte has had a very strong market. Since 2012, home prices have gained nearly a full third of the current average value. This is a tremendous increase over a relatively short period of time. The demand for available homes has also made the number of existing homes for sale drop dramatically. Homes that are listed for sale tend to sell quickly and for a high price, often more than the asking price.
That said, many experts believe that the housing market is about to correct itself. A housing correction does not necessarily mean that housing prices will drop. It may mean nothing more than leveling out, and home prices are still expected to increase in Charlotte for at least another year. After that, home prices are likely to drop.
Charlotte currently has an average home list price of $289,900. In 2018, the average sale price was $238,000, which was a 5.8 percent increase over prior years. While these numbers might seem lower than some other major metro areas, it is high compared to the local average income.
So, what does that mean for those considering selling their homes? It means that they need to act quickly to take advantage of current market conditions. The market is still hot, and will likely remain hot for a bit longer, but change is coming. Should the market start to stabilize, home prices are likely to decline, and the drop could be significant.
Sell Your Charlotte, NC Home Regardless of Market Conditions
If you are worried about a potential downturn, or are looking to sell a home in Charlotte, NC, without stress and expense, then it’s time to consider selling with HomeGo. Offering on-the-spot offers and fast sales, HomeGo will allow you to capitalize on the current high prices in Charlotte, without the expenses and frustration of entering the market as a home seller. Reach out to HomeGo to see just how easy selling a home in Charlotte, NC can be.