Spring 2014 is here and the consensus is continued improvement in volume and pricing. Local real estate sales re-energized in 2013, with both homes and condos showing strong upticks in sales. You have probably seen the national market stories of renewed strength in housing. Here are some local market facts:
Single-family home prices increased 8.8% in 2013
Condo prices in the Charlotte Region were up 6.3% in 2013
Average days list to close fell to138 and 136 days respectively, a 9.2% drop
Closed sales (units) in the Charlotte region were up 24.6% from 2012
New listings and pending sales per up 12.2% and 17.3% year over year
Inventory of homes continued to drop -7.5%
Our local neighborhoods did even better-
Area 4:
Closed sales 1737 units, +30.4% over 2012
3 months’ supply of inventory
Average list to close 117 days
95.3% of Original asking price
Area 5:
Closed sales 3046 units, +26.1% over 2012
2.6 months of inventory
Average list of close is 117 days
Prices averaged 95.3% of original asking price
2014 has started with a bang. New construction is experiencing healthy pre-sales, and re-sales are closing at higher prices per foot. All in all there are signs about of a return to health for real estate.
Ps. Scot Williams, as manager/ member and Scot Williams Realty, LLC. are representing a new construction project 2251 Selwyn, on Selwyn Avenue near Croydon. Available condos ranging from 1780 to 2321 sq. ft. start at $560,700.
Spring 2014