Charlotte Region Weekly Market Report Week Ending November 13, 2021

For Week Ending November 13, 2021 (Data current as of November 22, 2021)

The Federal Housing Finance Agency may soon increase conforming loan limits, according to the Wall Street Journal, with Fannie Mae and Freddie Mac expected to back mortgage loans close to $1 million dollars in high-cost markets, and loans up to $650K in other markets, beginning in 2022. The final loan limits are expected to be announced November 30th. The projected increases are meant to keep pace with the historic rise of sales prices in the last year. Conforming loans often offer lower interest rates and smaller down payments, making it more affordable and easier for some borrowers to purchase a home

Charlotte Region

In the Charlotte region, for the week ending November 13:

  • New Listings increased 13.5% to 1,219
  • Pending Sales increased 22.5% to 1,294
  • Inventory decreased 33.5% to 4,191

For the month of October:

  • Median Sales Price increased 15.5% to $335,000
  • List to Close decreased 10.0% to 72
  • Percent of Original List Price Received increased 1.7% to 100.4%
  • Months Supply of Homes for Sale decreased 35.7% to 0.9

Most Prevalent Mortgage Rates for Top Tier Buyers:

  • 30 Year Fixed – 3.000% – 3.250%
  • 15 Year Fixed – 2.375% – 2.625%
  • FHA/VA/USDA – 3.000% – 3.125%

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 November 22, 2021. 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.

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