For Week Ending October 9, 2021 (Data current as of October 18, 2021)
As home prices have continued to soar, many borrowers are finding they must borrow more to afford the rising costs of homeownership. Applications for jumbo loans — those loans that exceed conventional conforming loan limits established by the Federal Housing Finance Agency — are on the rise and could reach $550 billion this year, according to Bank of America researchers, the highest level since before the 2008 financial crisis.
In the Charlotte region, for the week ending October 9:
- New Listings decreased 4.3% to 1,23
- Pending Sales increased 5.8% to 1,231
- Inventory decreased 33.3% to 4,371
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 – 3.000% – 3.250%
• 15 Year Fixed – 2.375% – 2.625%
• FHA/VA – 2.750% – 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 October 18, 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.