By Mary Webster
The real estate market is changing rapidly, and every week brings new updates and data to be evaluated. Rising interest rates, inflation, low inventory of homes for sale, continued high demand for housing, and economic uncertainties are just some of the factors affecting the real estate industry. Every day we are bombarded with media stories about the housing market, and it is difficult sometimes to differentiate the hype from the facts. As a realtor at Keller Williams Ballantyne-Area, we analyze the information on a daily basis to help our clients formulate the best plans for buying and selling homes.
Despite the lower inventory of homes and slowing buyer demand, the Charlotte area continues to experience a healthy real estate market. One of the questions I often receive is “who is moving to Charlotte?” and will there be a demand for your home once it is listed. Let me share some information with you about who is moving here and how that affects demand for your home.
As we know, Charlotte is a great place to live! We enjoy great weather, access to recreational areas, cultural events, professional sports teams, convenient proximity to both mountains and beaches, a healthy job market, and the many other advantages. A major airport gives us a transportation hub, and many top US and International companies have offices in Charlotte. As a result, people are drawn here from all over the US and the world, for a variety of reasons. We welcome young adults just starting careers, established professionals and tradespeople, entrepreneurs, and retirees seeking a Carolina lifestyle. Several studies have estimated that approximately 100 people move to Charlotte every day, and they all need housing!
US Census reports show approximately a 1% increase in population in the Carolinas over the past few years. The pandemic brought increased numbers to our area as remote working became more common. Overall, the entire southeast saw an increase in population, as people saw it as a desirable place to live. The primary areas that people are moving here from are the northeast states, the Midwest and upper Midwest, and even California.
What does all this add up to? A continuing demand for housing in the Charlotte area! We are very fortunate that Charlotte is a desirable place to live, and people want to live here. This translates to a healthy real estate market despite the economic challenges we are experiencing. There is a continued demand for homes here year-round with very slight seasonal changes. Homes are still selling in a relatively short amount of time, with the supply of homes currently at 1.8 months. This is different from the crazy selling times we saw during the past 2 years; however, it is still indicative of a very healthy selling market. Buyers are seeing fewer homes for sale, and prices have adjusted downward. Houses are actually available to view now, not selling before they even become listed. Bottom line: it is still a great time to sell your home, and a good time to buy also.
If you have specific questions about buying, selling, or investing in real estate, I would love to help you with your personal situation. Please reach out to a professional real estate agent who can give you the facts and not the hype.
Mary is a real estate agent at Keller Williams Ballantyne-Area, licensed in both NC and SC. After 25+ years working in maternal-infant health, she made the transition to real estate about 10 years ago. She services buyers, sellers, and real estate investors, with additional specializations in luxury and military relocation. After moving 9 times around the United States, she was finally fortunate to land in Charlotte, NC. Mary loves to use her expertise for buying and selling homes, combined with her knowledge of the NC & SC areas. This background helps her sell your house quickly and efficiently, while finding the perfect new home for your personal situation. Call, text, or email Mary to get started! You can reach her at 704-517-0205 or [email protected]