For Week Ending January 1, 2022 (Data current as of January 10, 2022)
After a brief moderation last spring and summer, lumber prices are on the rise again. According to the National Association of Home Builders, lumber prices have nearly tripled the past 4 months, adding more than $18,600 to the price of the average new single-family home. The COVID-19 pandemic continues to impact the lumber market, with the most recent surge in prices due to supply chain disruptions, sharp increases of tariffs on Canadian lumber imports, and record wildfires in the western U.S. and British Columbia.
In the Charlotte region, for the week ending January 1:
- New Listings decreased 12.5% to 509
- Pending Sales increased 15.7% to 687
- Inventory decreased 34.0% to 3,560
For the month of December:
- Median Sales Price increased 20.0% to $350,000
- List to Close decreased 10.7% to 75
- Percent of Original List Price Received increased 1.3% to 100.2%
- Months Supply of Homes for Sale decreased 45.5% to 0.6
Most Prevalent Mortgage Rates for Top Tier Buyers:
- 30 Year Fixed – 3.625% – 3.875%
- 15 Year Fixed – 3.000% – 3.375%
- FHA/VA/USDA – 3.375% – 3.625%
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 January 10, 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.