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From our Family to yours, Cheers to a truly HAPPY 2019!
Typically each year's beginning is a time filled with self-reflection and self-improvement. More importantly, we must remember that on the road to success, the rule is always to look ahead while reflecting back on mistakes as not to repeat. I hope this year brings much happiness, good health, new goals and achievements and a lot of new inspirations on your life whether it be faith, better health, being a better person or improving the environment.
If you are looking to upsize due to an expanded family or marriage; or looking to downsize keep in mind we are here to assist or answer any questions you might have.
CHEERS TO EACH OF YOU AND DO KNOW THAT WE APPRECIATE EACH AND EVERY ONE OF YOU!
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December Charlotte Market Update
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Home prices were consistently up again in most markets in 2018 but at reduced levels
compared to recent years. High demand for few homes for sale fueled price increases,
but evidence is mounting that inventory will finally improve in 2019. This may apply
some downward pressure on prices for beleaguered home buyers. A fourth interest rate
hike by the Federal Reserve in 2018 spooked the stock market to close out the year.
The Fed has indicated that the number of rate increases in 2019 will be halved, which
may be of little comfort to an already compressed consumer.
New Listings were down in the Charlotte region by 4.4 percent to 2,601. Pending Sales
held steady at 2,769 Inventory shrank 5.9 percent to 8,718 units.
Prices moved higher as Median Sales Price was up 1.6 percent to $236,750. Months
Supply of Homes for Sale was down 4.3 percent to 2.2 months, indicating that demand
increased relative to supply.
Unemployment rates remained remarkably low again in 2018, and wages continued to
improve for many U.S. households. It is generally good for all parties involved in real
estate transactions when wages grow, but the percentage of increase, on average, has
not kept pace with home price increases. This created an affordability crux in the
second half of 2018. Housing affordability will remain an important storyline in 2019.
Stats from Charlotte
Regional Realtor Association
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December
2017 |
December
2018 |
%Change |
| Homes for Sale |
9,268 |
8,718 |
-5.9 |
| Pending Sales |
2,768 |
2,769 |
+0.0 |
| Closed Sales |
3,692 |
3,176 |
-14.0 |
| Days on Market |
60 |
58 |
-3.3 |
| Average Sales Price |
$279,913
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$282,894
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+1.1 |
| Months Supply of Homes |
2.3 |
2.2 |
-4.3 |
Based on information from the Carolina Multiple Listing Services, Inc. for the month of December 2017 & 2018 for the entire Carolina MLS area.
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5 Things to Expect when Selling in the Winter
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Winter is traditionally a slower time for home sales, but don't despair. Here are a few ways the timing might play in your favor.
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1. Buyers tend to be more motivated
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Buyers looking for homes are doing so because they really must relocate due to job, family or other unavoidable circumstances. You'll probably waste less time dealing with real estate tire-kickers.
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Because there are fewer transactions during the winter, mortgage companies, home inspectors and appraisers have less on their plates. You should be able to schedule appointments sooner and expect faster turnaround for reports and approvals than in the busy warmer seasons.
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3. You can leverage the smaller inventory
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With fewer homes on the market, your property's unique features stand out even more. Are you the only townhome within walking distance of downtown? The only split-level with a pool in your school district? I'll be sure to mention it in your listing.
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4. Summer buyers are looking now
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Not everyone looking in the winter must move immediately. We can discuss ideas about how to market your home among local businesses and organizations with fluid populations, such as universities, or via school district websites that might attract families moving to the area.
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5. You can remind buyers of warmer weather
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Be sure to include images of your home during greener summer months, including lifestyle shots of your deck, patio, porch and/or yard. Feature these photos in a frame during showings to remind buyers how the home can come alive in the spring.
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Thank you for your business and Referrals
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Of course, nothing is
appreciated more than referrals
so if you know of anyone looking to buy or sell please keep us in mind! We would be delighted to assist in any way we can.
Sincerely,
RE/MAX Executive Realty
Charlotte, NC 28211
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22350 Market Street -- 3 BR, 2.1 BA
Price: $339,900 (2145 sqft)
Complex: Antiquity
→ More info
Guy Ward | MLS # 3465258 | Active
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1586 Old Friendship Road
Price: $315,000 (39.55 acres)
→ More info
Guy Ward | MLS # 3068361 | Active
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362 Sadie Drive
-- 3 BR, 3.1 BA
Price: $299,900
(2296 sqft)
Complex: Park Place
→ More info
Guy Ward | MLS # 3464834 | Active
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11008 Atrium Way
-- 3 BR, 3 BA
Price: $214,900
(1624 sqft)
Subdivision: Habersham
→ More info
Guy Ward | MLS # 3461510 | Under Contract
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Hwy 28 Highway
Price: $59,000
(6.50 acres)
Subdivision: None
→ More info
Guy Ward | MLS # 3435775 | Active
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220 Bacon Avenue
-- 2 BR, 1 BA
Subdivision: Biddleville
MLS # 3427263 | SOLD
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4427 Hounds Run Drive
-- 3 BR, 2 BA
Subdivision: Habersham
MLS # 3443268 | SOLD
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