What Does the Charlotte Market Look Like?

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Clients oftentimes ask me whether the current Charlotte market conditions favor either buyers or sellers. Right now, we’re in a seller’s market and we’ve seen this for over a year.

What does that mean for you? If you’re a seller, buyers are paying close to the listing price. Currently, we see a 3.5% difference in asking price and selling price. Depending on location and desirability, buyers should expect to pay close to retail price. For your offer to stand out, it should be competitive and aggressive.

Secondly, clients ask me how this happens. What happens to inventory to make it favor buyers or sellers? Well, we currently have three months of inventory and we don’t expect this to change anytime soon. Typically, a balanced market has approximately six months worth of inventory. For the market to favor sellers, inventory would have to be up to seven months and above.

How do these things affect the market as a whole? Prepare for multiple offer situations on more desirable homes. The market is competitive right now, so you should plan accordingly.

If you’re thinking about buying or selling a home in the surrounding Charlotte area, please reach out to me by phone or email today. I’d be happy to answer any questions you have! I look forward to hearing from you.