Seller Market Stats in Charlotte - COVID 19
I am not one to wear rose colored glasses. I tend to be a realist and look for data to support my hunches. Today I've been looking at seller stats for this area. I am seeing some really promising trends for sellers. If you planned on selling your home this spring, we know the timing is pushed a little later, but looking at the stats in the market, will you be ready once the market opens?
Looking at the graph of homes for sale in all of Charlotte:
We see homes for sale are down 8.5% from this time last year (which was already at very low levels). Narrowing down the stats to the areas I sell mostly in that I call South Charlotte & Beyond (this includes parts of Union County and upper SC):
This area of homes predomitmately in South Charlotte is down by 3% from this time last year. This area was already seeing historically low levels of inventory.
Why am I talking about this when we are in a County order that does not allow in person showings? Because for sellers who planned on selling this spring, the timeline obviously got pushed back, but many industry leaders feel there is going to be huge pent up demmand and there WILL be buyers who want to buy once they are able.
On a micro level, the Charlotte area was in an incredibly strong housing market just a few weeks ago. We are seeing companies relocate here and there have been several companies designate headquarters here. All of that will remain once the market opens. Many of the recent job losses have been in the service industry. There will also be pent up demmand for those services and hopefully many will find employment again soon.
So the questions is, sellers will you be ready once the market opens? Are you spending any extra time you have now getting your home ready for the market? If you thought about selling this spring, now you have additional time to get your home ready. If you need help getting your home ready, let's set up a virtual tour. Let me virtually walk the home with you and give you suggesstions, advice. Use this time wisely if listing your home is i your near future!