It is the time of year that we are all reminded of one of the reasons we all love Charlotte: SPRING! Nothing beats a lush Charlotte spring, and outside of our booming local economy, the weather is for certain one of the reasons so many people move here. This year definitely feels a little more normal than last, with kids back in school, dinner with friends we haven’t seen, small outside gatherings, and of course for me, the Charlotte spring real estate market!
With the exception of last year, spring market always brings an increase in sales activity. Buyer demand has never been stronger, even with buyers facing rising home prices and interest rates. Charlotte continues to lack the necessary inventory and homebuilding to bring the market into balance, which means don’t expect this strong seller’s market to leave us quickly. Inventory shrank year over year 70%, yet pending sales increased over 30%.
If you read my 2021 Forecast (re-read it here), it is truly what my team and I are experiencing alongside the rest of the industry. We are in an environment where bidding wars, fast sales, and soaring sales prices are commonplace. It is no wonder that Google searches for consumers seeking information about “Why is the market is so hot?” has doubled and “How much over asking price should I offer on a home in 2021?” has increased 350%.
Take a look at some recent Charlotte market data that shows how my 2021 forecast has come to light as we close out Q1:
If you are thinking of buying or selling or simply want some real estate advice, please don’t hesitate to reach out to me or my team. We are here to guide you through the local market (no Google searches needed!).
And as always, thank you for all your support and business! We truly have the best clients.