For Week Ending January 8, 2022 (Data current as of January 18, 2022)
Mortgage rates rose to their highest level since May 2020, with the 30-year fixed rate mortgage averaging 3.22% during the first week of 2022, more than half a percent higher than January 2021. The increase in interest rates has had little effect on buyer demand, which remains high into the new year, as purchase loan applications were up 1.4% on a seasonally adjusted basis the same week, according to the Mortgage Bankers Association’s Market Composite Index.
In the Charlotte region, for the week ending January 8:
- New Listings decreased 11.1% to 952
- Pending Sales decreased 5.5% to 879
- Inventory decreased 36.0% to 3,201
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 36.4% to 0.7
Most Prevalent Mortgage Rates for Top Tier Buyers:
- 30 Year Fixed – 3.625% – 3.875%
- 15 Year Fixed – 2.990% – 3.250%
- FHA/VA/USDA – 3.500% – 3.750%
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 18, 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.