Below is a quick update on the Charlotte Real Estate Market through August 2022. You can always search available homes at www.CLTREA.com and if you have any questions, please do not hesitate to contact me!
Comparing August 2021 and August 2022, Pending Sales in the Charlotte Region are down 18% percent overall. While that number is alarming, the average sales price of homes is 16.9% higher than the same time last year. In fact, the yearly statistics show 2022 increased average sales price 16.3% over 2021.
To me, the most interesting statistic was in August 2022 homes closed at 98.5% of the original list price versus 101.5% in August 2021. The bidding wars have calmed down significantly and only in certain price ranges are multiple offers a regular occurrence.
One last bit of data I pulled from ShowingTime shows that buyer demand may be creeping back up. While total Showings were down an average of 29% in May, June, and July 2022 vs 2021, August 2022 was only down 6% vs 2021. August is traditionally one of the slowest months, but showings exceeded even June's levels in 2022. It will be interesting to see how September and October showings play out.
Looking For New Construction?
For Buyers in the market for New Construction, this may be a very good time to shop. Many builders are offering significant incentives including buying down interest rates, paying closing costs, or traditional price drops to entice buyers. Please do not hesitate to ask if you would like some additional information on New Construction Opportunities.
August 2022 Reviews