For Week Ending October 2, 2021 (Data current as of October 11, 2021)
Soaring sales prices have brought about significant gains in home equity during the pandemic, with the average annual equity increase for borrowers reaching $51,550 in the second quarter of the year, according to CoreLogic, which represents the largest average equity gain in more than 11 years. The rapid accumulation of equity may help homeowners who are behind on payments avoid foreclosure, allowing borrowers to access their equity and sell their homes instead.
In the Charlotte region, for the week ending October 2:
- New Listings increased 0.8% to 1,334
- Pending Sales increased 11.2% to 1,296
- Inventory decreased 34.1% to 4,350
For the month of September:
- Median Sales Price increased 15.9% to $335,000
- List to Close decreased 17.9% to 69
- Percent of Original List Price Received increased 2.4% to 101.0%
- Months Supply of Homes for Sale decreased 35.7% to 0.9
Most Prevalent Mortgage Rates for Top Tier Buyers:
• 30 Year Fixed – 2.999% – 3.125%
• 15 Year Fixed – 2.250% – 2.625%
• FHA/VA – 2.625% – 3.000%
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 October 11, 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.