We wouldn’t be here without our wonderful clients! Whether you are buying your first home, selling a longtime property, or investing in your future, we are truly grateful for the trust you place in us to help you with these milestone moments. It’s notes like this that make it all worth it. Thank you for letting us be a part of your journey!
Author: Christie Garella
March 2025 Update
A quick March 2025 update for the City of Charlotte is showing increased inventory and at the same time, substantially higher prices:
- New Listings have increased 10.8%
- Average sales price has increased 17% to $647,379
Clearly the increase in inventory has not brought pricing down. What happened in your neighborhood in March?
Myers Park – 9 closings, $568.14 per foot HLA
Cotswold – 14 closings, $477.56per foot HLA
Eastover – 5 closings, $620.14 per foot HLA
Madison Park – 13 closings, $374.96 per foot HLA
Midwood – 10 closings, $478.54 per foot HLA
November 2024 – Housing Update
The housing market is seeing an uptick in new listings across the nation, particularly in the South and the Charlotte MSA. Nationally, new listings have increased by 4.9% compared to this time last year. In the South, inventory has grown by 2.9%, and the Charlotte area has experienced a notable 5.4% rise in new listings compared to October 2023.
However, prices remain on the rise. Through October, total new listings in the Charlotte MSA climbed by 12.6% in 2024, while the average sales price also increased by 7.2%, reaching $513,694.
The silver lining for buyers lies in the year-over-year comparison. October 2024 saw a 5.4% increase in new listings and an impressive 34.6% boost in the total inventory of homes for sale compared to October 2023. While prices are higher, the expanded inventory offers buyers more options.
Here’s hoping for lower interest rates to reinvigorate the market for everyone!
Local Neighborhood sales information from the last 60 days (as of 11/11/2024)
| Neighborhood | Available Listings | Homes Under Contract (U/C) | Homes Closed | Price per/Ft |
| Myers Park | 12 | 9 | 23 | $489.86 |
| Eastover | 8 | 2 | 6 | $557.94 |
| Foxcroft | 5 | 2 | 3 | $680.71 |
| Cotswold | 17 | 7 | 20 | $504.29 |
| Midwood | 8 | 8 | 19 | $443.98 |
| Madison Park | 6 | 5 | 10 | $376.87 |
| Randolph Park | 0 | 1 | 3 | $376.38 |
| Barclay Downs | 3 | 4 | 1 | $550.37 |
*Available listings include those shown as coming soon
*Homes u/c include those still available for showings
*Price per foot only includes closed properties
Why to use a realtor – more than 50 reasons, and counting…
Realtors are a critical resource when it comes to buying and selling a home. Not only do they have in-depth knowledge of the real estate market – from current trends to neighborhood characteristics to appropriate pricing – but they also provide incredible guidance and insight throughout the process, which (let’s be honest) can be daunting. There are so many reasons for a buyer or seller to use the services and the expertise of an agent and firm. Here are just a “few” things our agents provide…
- An understanding and overview of current market conditions and direction
- Explanation of transactional and agency relationships
- Federal and State laws and Realtor Code of Ethics
- Confidentiality
- Preparation of legal documents
- Assurance that material facts become known
- Understanding of market pricing, market trends, and MLS services
- Information as to popular features in a home
- Understanding of zoning and building restrictions and how they might affect value- sellability
- Help protecting against risks of wire fraud
- Help reviewing closing documents for tax, HOA, utility, and other appropriate prorations
- Help assuring that all prepays are included and verified
- Confirmation of title insurance
- And a communication advocate throughout the process.
A Buyers Agent:
- Helps make and confirm appointments
- Is available to answer and advise Buyer
- Can check credentials and accomplishments of the Selling agent and firm
- Can help plot communication during the sale
- Can learn Buyers non-negotiable needs
- Help direct a Buyer to quality lender resources and analyzing loan estimates
- Partner with buyer matching suitable with available properties
- Help explain property disclosures and available resources about neighborhoods and schools
- Help explaining closing costs and costs of home ownership
- Help coordinating between the Buyer and lender
- Help with market research as to prospective house to view and schedule showings
- Network with other agents to help find homes being considered for sale
- Assist in negotiating strategies the best price
- Explaining contingencies, inspections, appraisal, and financing
- Help navigating multiple offers and ways to turn that into a successful offer
- Organize inspections- plumbing, electrical, HVAC, radon, mold, termite, and appraisals
- Negotiate repairs and explain Sellers responsibilities as well as assisting finding contractors and assuring their payment
- Follow loan processing and coordinate clear-to-close with lender, Seller, and attorney helping meet contract deadlines including due diligence periods, earnest money deposits and managing/ protecting escrow account funds
- Schedule walkthroughs
- Mediate any conflicts that arise in the process
Listing Agents:
- Research comps and advise on Best pricing and pricing strategies
- Research and verify all subdivision, deed, land use, zoning restrictions that might affect a properties value
- Verify legal ownership
- Recommend changes to improve curb appeal
- Recommend changes to interior decor to improve saleability
- Advise Seller on market conditions and projections
- Discuss goals, benefits of different types of marketing that an agency can offer
- Reconfirm square footage and lot size, liens and easements
- Verify HOA fees and restrictions
- Verify utility providers, termite bonds, ownership of natural gas tanks etc.
- Lead paint disclosures
- Detail amenities
- List repairs and updates
- Arrange to have property photographed and proper signage installed
- Enter into MLS and company website, adding pertinent documents
- Prepare brochures and marketing fliers
- Plan a way for the home to be shown- lockbox, coordinate with Seller etc.
- Receive, present, and advise on offers
- Negotiate with Buyers Agent or Buyer and advise on repairs
- Assist providing Seller info as needed to the closing attorney.
We could go on! Clearly our agents have value.
Charlotte Region Quick Facts
Our homes are our sanctuary. They are providing security and a basis for community; and happily, they have proven to be a VERY good investment in the Charlotte Region:
Year Average Sales Price Change in Average Sales Price
2015 $238,444
2016 $254,417 6.7%
2017 $269,655 6.0%
2018 $286,699 6.3%
2019 $303,722 5.9%
2020 $336,098 11%
2021 $387,465 15.3%
2022 $445,197 14.9%
2023 $461,014 3.6%
(Quick facts provided by Canopy MLS)
Wood-Williams arguably provides a level of experience unmatched in Charlotte. Charlotte is a proven market, and we have the experience to help you find the Right home and or help selling your existing home. Call us!
Ann Holladay (704) 617-7678
Scot Williams (704) 953-8256
Renee Cerwin (704) 502-5307
Robbie Horn (704) 905-0967
Morgan Rooney (704) 560-0450
Happy New Year! Neighborhood Results for the last 6 months as we enter 2024
Our great Wood Williams Realty agents are thrilled to continue to donate a portion from each closing to Project2Heal, an organization that breeds and trains Labrador retriever puppies as service dogs to help vets and others in need. It’s been a stressful couple of years, and service dogs have never been more important. Thanks to those of you who used our services. You are literally helping save lives.
A brief look at what transpired in some of your neighborhoods in the second half of 2023: *
Neighborhood (closings) $/foot Average HLA
Barclay Downs 18 $426.17 2752
Beverly Woods 20 $330.88 2087
Cotswold 58 $385.02 2700
Eastover 28 $524.03 3389
Madison Park 32 $362.25 1762
Midwood 68 $415.42 2001
Myers Park 100 $498.47 3130
Providence Park 4 $330.19 2727
If you are looking for knowledgeable, highly experienced agents to help you buy or sell a home. We are here to help! Call us
Ann – (704) 617-7678
Scot – (704) 953-8256
Robbie – (704) 905-0967
Renee – (704) 502-5307
Morgan – (704) 560-0450
Thanks again from all of us at Wood Williams Realty. Have a happy, safe & merry holiday season.
*Data sourced from Charlotte MLS Services
Neighborhood Notes & Non-Profit News
Some Neighborhood Notes from the First Six Months of 2022…
Wood-Williams Realty is thrilled to continue to donate a portion from each closing this year to Project2Heal, an organization that breeds and trains service dogs to help vets and others in need. It’s been a stressful couple of years, and service dogs have never been more important. Thanks to those of you who used our services.
Just a brief look at what is going on in some of your neighborhoods so far this year:*
| Beverly Woods | (25 Closings) | Averaging $332.67 per foot | Average HLA 1,906 |
| Madison Park | (47) | $335.87 | 1,703 |
| Myers Park | (64) | $480.71 | 3,693 |
| Sharon Woods | (3) | $314.30 | 3,575 |
| Sedgefield | (24) | $411.97 | 2,706 |
| Providence Park | (5) | $394.25 | 2,859 |
| Cotswold | (50) | $387.67 | 2,791 |
| Eastover | (20) | $519.78 | 4,233 |
If you are looking for knowledgeable agents to help you buy or sell a home. We are here to help! Call us (704)953-8256.
*Data sourced from Charlotte MLS Services
Spring Market Update
Do I wait or do I buy? As Charlotte grows and buyers try to navigate this crazy market, more and more we are hearing that question asked.
According to Zillow, waiting even a couple of weeks can cost you thousands of dollars. They argue that due to lack of inventory nationally that housing should remain historically hot for many months. That statement is bolstered by national numbers showing units of home sales down in both February and March this year while average days on market has shrunk to 9 days!
But what about Charlotte? Year to date thru March:
New listings -10.2%
Pending Sales -9%
Closed Sales -3%
Days on the market -21.4%
Average Prices +16.4%
% Of original price paid 100.9% (That’s a stat I haven’t seen in 27 years in the business)
WOW!
The good news in all of this is that we have a very experienced team here to help you navigate this market. Call us today!
January 2022 – Market Update
So here we are in 2022 after another crazy year of tight inventory and escalating prices. According to a Charlotte Business Journal article and the Case-Shiller index, annual home-price gains in the Charlotte metro were up over 20% in October. They have been up 20%+ for the fourth month in a row! Charlotte’s results ranked 8Th amongst 20 metro areas in this analysis, so things are crazy everywhere. According to Redfin, home prices reached an all-time high of $361,171 at the end of the year while the number of homes sold fell to a record low thanks to a continuing lack of inventory.
What do these numbers suggest for 2022? Well, it is clear that the housing markets are driven to some degree by location preferences thanks to a willingness of businesses to allow their employees to work remotely during the COVID pandemic. But how permanent will those changes be? I think it may be revealed this year.
Regardless, the Realtor.com forecast for the Charlotte market in 2022 calls for an increase in median home prices of 5.6% and an increase in sales of 9.9% with an eye to the following trends:
- Competition by millennials as first- time buyers thru 2025
- Mixed affordability
- Opportunities created by shifting workplace dynamics
- New demand for indoor and outdoor spaces thanks to COVID
- And homeowner diversity
Stay tuned – Wood Williams Realty has some fun news to bring you later this month!
Welcome Home
I heard a great story today that defines the Charlotte that I grew up loving:
We were all stunned to hear the news of Prices Chicken Coop closing. A Charlotte fixture that found after 60 years that they could no longer staff their kitchen nor depend on their suppliers. Lines formed immediately as folks clamored for on last serving.
A caller on a local radio program explained that he had driven by Friday June 18th, but found the lines longer than he had time to give. He decided to come back Saturday at 9 AM knowing that Price’s opened at 10. Unfortunately, it was not a unique idea and he was forced to park several blocks away and get in line. The line was full of young, old, Black and White; many had chairs and all were willing to brave the heat for one last meal. Well 6 hours later the caller finally got inside only to hear that Prices had just run out of food and the business was coming to an end. There was no grumbling, no fighting; instead, the announcement was greeted with applause and well wishes.
To our new friends from other cities, this is the Charlotte that we have grown to love. We hope you’ll will find it here also!
Welcome Home