For Week Ending October 30, 2021 (Data current as of November 8, 2021)
Millennials are leading the housing boom, accounting for 37% of home purchases over the last year, according to Barron’s. Increasing net worth, household formation, low mortgage rates, and a robust economy are a few of the reasons behind the recent growth of homebuyers in this age segment. With Millennials representing 22% of the U.S. population–and with their peak earning years ahead—experts remain optimistic about this generation’s impact on the housing market.
In the Charlotte region, for the week ending October 30:
- New Listings decreased 4.0% to 1,116
- Pending Sales increased 9.8% to 1,237
- Inventory decreased 33.7% to 4,295
For the month of September:
- Median Sales Price increased 15.5% to $335,000
- List to Close decreased 11.3% to 71
- Percent of Original List Price Received increased 1.7% to 100.4%
- Months Supply of Homes for Sale decreased 42.9% to 0.8
Most Prevalent Mortgage Rates for Top Tier Buyers:
- 30 Year Fixed – 3.000% – 3.250%
- 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 8, 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.