For Week Ending September 25, 2021 (Data current as of October 4, 2021)
The Federal Reserve announced this week that while it would keep its benchmark rate near zero, it was preparing to taper stimulus efforts put in place to combat the pandemic, including winding down its bond purchase program. Experts expect interest rates on mortgages, credit cards, car loans, and other consumer loans will rise as the Fed tapers its bond purchases. Looking long term, The National Association of REALTORS® predicts the 30-year fixed-rate mortgage to rise to near 3.5% by mid-2022, about 60 basis points higher than they are today.
In the Charlotte region, for the week ending September 25:
- New Listings decreased 13.7% to 1,166
- Pending Sales increased 7.0% to 1,267
- Inventory decreased 32.2% to 4,452
For the month of August:
- Median Sales Price increased 14.8% to $332,800
- List to Close decreased 20.9% to 68
- Percent of Original List Price Received increased 3.0% to 101.5%
- Months Supply of Homes for Sale decreased 40.0% 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 4, 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.