Uncategorized Archives - Wood Williams Realty

March 2025 Update

Posted on April 15, 2025May 29, 2025 by Christie Garella

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

Charlotte Region Quick Facts

Posted on February 15, 2024February 15, 2024 by Christie Garella

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

Posted on December 11, 2023 by Christie Garella

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

Posted on June 21, 2022 by Christie Garella

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

Posted on May 6, 2022 by Christie Garella

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

Posted on January 17, 2022 by Christie Garella

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 8^Th 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!

July 2020 Sales in the Charlotte Region

Posted on August 18, 2020 by Christie Garella

The Early Spring Market is Hot!

Posted on February 7, 2020February 7, 2020 by Christie Garella

Image result for myers park charlotte Punxsutawney Phil called for an early spring and the Charlotte housing market was already one step ahead of him. The market is moving and doesn’t show signs of slowing down. Dr. Lawrence Yum, Chief Economist at The National Association of Realtors, recently visited the Queen City and agrees, “You are in a very good Market”!

Charlotte is one of 10 markets in the country that will outperform the national average for home appreciation in the next five years. And, according to Yum, Charlotte has seen twice the job growth than the national average over the past 20 years. Not only that, but weekly wage growth has grown by 33% in the last dozen years. That’s a recipe for a strong market! Yum also expects optimism in the stock market thanks to the recent Canada-Mexico Trade agreement and fading discussion about a 2020 recession.

Charlotte’s home market is not without its challenges. In December inventory dropped to 1.7 months, historically low (three months is considered a healthy market), and Millennials continue to put off home ownership as they tackle college debt and postpone marriage. ………And then there are those ugly unresolved national issues including divided government, deficit spending, and affordable housing hanging over housing.

But all problems aside, Dr. Yum expects us to see the return of the Millennials and for Charlotte to outperform the national averages by 5%. He is forecasting improvement in real estate four out of the next five years. Exciting times and welcome news for home Sellers! And, the perfect time to give us a call. Let’s find a new home this spring!

January 2020 Market Updates

Posted on January 17, 2020January 17, 2020 by Christie Garella

2020 has started with a bang! According to The Charlotte Realtor Association home sales in December surged 17.2% year over year. It looks like the spring market has started early.

For the year, 50,854 properties sold in the Charlotte Region (12 counties in NC and 4 in South Carolina), up 5.9% in 2019. Additionally, pending sales increased 8.9%, implying continued momentum.

List price to sales price finished 2019 at 96.7%.
The average price of a home increased 5.9% to $303,722, while median sales price, rose 7.1% to $255,000.
List to close was unchanged at 93 days, while days on market averaged 43 days in 2019.

The weather is unseasonably warm. The market is hot. It’s a great time to call us!

Fall Market Update

Posted on September 24, 2019September 24, 2019 by Christie Garella

Housing remains bullish. According to the Home Purchase Index, Fannie Mae found that 58% of Americans say it’s a good time to buy a home, and maybe as importantly 65% say it’s a good time to sell one! These sentiments likely have a lot to do with interest rates that, even though they have been bouncing around a bit, are 1% lower year over year and close to historical lows.

Additionally, rents have reached a national average of $1,465/ month in June, up $45 bucks from this time last year. Charlotte comes in at $1,243 up 5% since last year. Throw in rising consumer credit scores, and it really is a good time to call Wood-Williams Realty, LLC.!

A synopsis of data drawn from South State Bank’s Expert Update published 9/20/19

That said, we wanted to share neighborhoods across Charlotte where we are active and provide some single-family activity data from the last 90 days:

Neighborhood	Active Properties	Under Contract	Closed/Sold	Average Price	Cost Per Sq Ft
Myers Park	48	24	47	$1,163,030	340.81
Cotswold	32	13	36	$709,328	$254.74
Madison Park	20	13	34	$386,331	$226.95
Eastover	19	12	10	$1,436,194	$321.60
Dilworth	14	14	20	$835,883	$312.52
Quail Hollow	11		3	$1,151,000	$233.37
Providence Park	8	1	5	$882,000	$280.77
Sharon Hills	5	2	6	$692,583	$218.04

This information was compiled from CMLS on 9/20/2019 at 11 AM. All single-family properties that identified themselves as being in those neighborhoods were used.

This is just a broad look at these neighborhoods. For an expert opinion give us a call. Next month look for a similar survey of condo activity.

Here’s a snapshot of our latest listings. We look forward to hearing from you!