For Week Ending February 26, 2022 (Data current as of March 7, 2022)
Nationally, pending home sales decreased 5.7% as of last measure, marking the third consecutive month of declines according to the National Association of REALTORS®. With housing supply at a record low, buyers are finding fewer and fewer homes for sale, while rising mortgage rates and increased housing costs have priced out marginal buyers. Inventory levels are expected to improve gradually as the weather warms; in the meantime, economists say buyers should expect a challenging spring market.
In the Charlotte region, for the week ending February 26:
- New Listings decreased 15.2% to 995
- Pending Sales decreased 5.9% to 1,093
- Inventory decreased 39.6% to 2,569
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% – 3.750%
- 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 March 7, 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.