For Week Ending October 23, 2021 (Data current as of November 1, 2021)
Mortgage rates are on the rise, with the 30-year fixed-rate mortgage averaging 3.09% for the week ending October 21, 2021, according to Freddie Mac. Rates have climbed nearly one-third of a percent since early August. Despite increasing rates, which are projected to remain above 3% for the fourth quarter and rise even further next year, economists are expecting the housing market to continue to be active into 2022, thanks in part to strong buyer demand and increases in new listings.
In the Charlotte region, for the week ending October 23:
- New Listings decreased 1.0% to 1,182
- Pending Sales increased 13.2% to 1,254
- Inventory decreased 32.8% to 4,379
For the month of September:
- Median Sales Price increased 16% to $335,285
- 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 – 3.062% – 3.375%
- 15 Year Fixed – 2.375% – 2.750%
- FHA/VA/USDA – 2.875% – 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 1, 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.