Based on the current market report (released September 5th for data collected in August), the median sales price of a home in Charlotte metro is up 12.8% as compared to August 2019 to a total of $290,000. While there’s not reliable data on total number of serious buyers in the market, COVID and the current political and economic climates seen nationally haven’t slowed down buyers in our CLT market. So, if demand has remained consistent or increased, then the price increase is again due to a low number of homes to go around.
Overall, inventory has continued to contract and is down 51.3% from August of last year. That means there’s only 5,203 homes currently available for sale in the MLS, which includes our entire metro area, outlying suburban and rural areas, and ALL price points.
If you’re looking to buy, there is still a house for you, though it may take more perseverance to find it. If you’re looking to sell, you have a hot commodity, so market it wisely!
Monthly data is only available after the closing of that month, therefore currently available data lags one month from the current date.
* All data is from the Canopy Realtor Association Charlotte Region Monthly Indicators report as of September 5th, 2020 for the Month of August 2020. All opinions expressed are that of the writer and are not considered to be personal advice or investment advice.*