Fall Market Update

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!