For Week Ending February 19, 2022 (Data current as of February 28, 2022)
Median rental prices have increased by double-digits for eight consecutive months, rising 19.8% year-over-year. While home prices continue to climb, according to Realtor.com’s January Rental Report, buying a starter home is more affordable than renting a similar sized apartment in more than half of the nation’s largest metropolitan areas. That’s because, nationally, rent growth is rising faster than home prices, with economists expecting rental prices to outpace listing price growth in 2022.
In the Charlotte region, for the week ending February 19:
- New Listings decreased 1.3% to 1,066
- Pending Sales decreased 3.4% to 1,071
- Inventory decreased 40.5% to 2,576
For the month of January:
- Median Sales Price increased 22.8% to $350,000
- List to Close decreased 1.2% to 83
- Percent of Original List Price Received increased 1.2% to 100.1%
- Months Supply of Homes for Sale decreased 40.0% to 0.6
Most Prevalent Mortgage Rates for Top Tier Buyers:
- 30 Year Fixed – 3.875% – 4.125%
- 15 Year Fixed – 3.250% – 3.625%
- FHA/VA/USDA – 3.625% – 4.000%
You’ve worked hard for what you’ve earned, and you’re right to want the best experience. With ROI-based updates, highly targeted pre-listing marketing, and a systematized approach, you can rest easy knowing you are in good hands.
If you are thinking about selling your home in the next 6 months, call me today for your strategic marketing consultation. 708.995.7444
Local Data and content were obtained from CanopyMLS and Current as of February 28, 2022. Data is refreshed regularly to capture changes in the market activity. The Charlotte Region Report includes Alexander, Anson, Cabarrus, Catawba, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanley, and Union Counties in North Carolina and Chester, Chesterfield, Lancaster, and York Counties in South Carolina.