According to a recent analysis by the North Carolina State Health Plan, several of the…
The median house price in Charlotte reached a record $393,000. However, there is an upside for purchasers. A report reveals that you need 46 percent more money than a year ago to purchase a home in Raleigh. According to a new RedFin research, you need about 46 percent more money to buy in Raleigh, NC than you did a year ago. The city is having one of the nation’s fastest growth rates. ABC11 News has reported a recent housing market analysis reveals that the median home price in Charlotte has reached another record high. As of April, the most recent month for which data is available, the median house selling price in Charlotte was a record-breaking $393,344, according to RE/most MAX’s recent National Housing Report. Despite the fact that this statistic may cause price shock for some, the research also offered several positives for prospective homebuyers in the Charlotte region.
In April, the typical house selling price in Charlotte topped $390,000, up 21.4% from April 2021 and 3.5% from March. According to RE/study, MAX’s April’s median sales price in Charlotte was less than the national median sales price for houses, which was $420,000. The survey indicated that when the market heats up, house sellers are also increasing their prices. The typical listing price for properties in Charlotte increased by 4.4 percent from $385,000 in March to $402,000 in April. The lack of available houses on the market has been a big factor in rising property prices in Charlotte and around the nation, but the most recent data from RE/MAX indicates some improvement in this regard. In April, the number of new listings in Charlotte increased by 14.3 percent, from 4,666 in March to 5,326 in April. The number of houses for sale in Charlotte increased by 43.7 percent from 1,826 in March to 2,624 in April. According to RE/MAX, these numbers align with national patterns. Nationally, “an 11.5 percent rise in new listings from March to April led to a 24.0 percent increase in inventory month over month,” according to the research.
A GLIMPSE OF HOPE FOR PROSPECTIVE HOME PURCHASERS
Roger Berrey of RE/MAX Executive-Charlotte stated that despite April’s data indicating increased listing prices and selling prices in the majority of Charlotte, there was one region where things improved for prospective homebuyers. Berrey stated that he and his colleagues are “beginning to feel a slight shift” in the Charlotte real estate market, with some homes receiving “only two or three offers after seven to ten days” as opposed to the “ten to fifteen offers received in the first two days on the market” that had been the norm. “The market is still very robust with minimal inventory. Simply not an absurd market, he stated. We will continue to have a healthy and stable real estate market for the foreseeable future due to the limited inventory and high demand for living in the lovely Charlotte, North Carolina region. So although the median house price in Charlotte reached a record, there is hope for the future. Contact Hoard Law for any real estate advice.