A quick look at the numbers important to the real estate market for the Charlotte area MLS…..
As of the month of September of 2016 The CMLS is reporting that we have a 3.1 month supply of home inventory which is down 21% year over year. List to close is now at 99 days, down 11% from last September and average days on the market is 46. Average home sale price is $256,000 and The percentage of sale price to original list price is at 96.3%.
Also, the data and information being released by the Federal Open Market Committee of the The federal Reserve Bank often referred to as the FOMC is continuing to give guidance saying that they expect to hike interest rates at least one time this year. Many analysts expect this rate hike to happen at the December meeting of the FOMC. This expected rate hike may be what is motivating buyers to buyer sooner than later anticipating that cost of home ownership, i.e. mortgage rates may be on the rise in the near future. How much? What does this mean to you? as a buyer? as a seller? The Scarlett Real Estate team has answers for all your buying and listing questions.
Source: Charlotte MLS, Showingtime