Fall Market Update - Wood Williams Realty

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!