Monday Market Update

Medium sales price continues to climb and buyers have more power than ever.

As we tend to see buyer activity slow down in the cooler months our market is following that trend lower than normal.

We are seeing forbearances at the lowest level in 5 months.

Even with the price of lumber and new construction rising, strong home buyer demand keeps builders hopes looking bright.

Lending standards are tightening!

As we start to head into a seasonal change I am happy to report that the housing market isn't showing signs of slowing down.

Mortgage rates continue to remain near all-time lows!

In this episode we will go over the current real estate market trends for the Charlotte Regional area. Join us here every Monday as we keep you in the know.

For the week ending Aug. 15:

New Listings increased 3.6% year-over-year to 1,261

Pending Sales increased 29.4% year-over-year to 1,293

Inventory decreased 47.8% year-over-year to 5,611

For the month of July:

Median Sales Price increased 7.5% year-over-year to $285,000

List to Close increased 2.3% year-over-year to 89

Percent of Original List Price Received increased 0.9% year-over-year to 98.1%

Months Supply of Homes for Sale decreased 46.2% year-over-year to 1.4 months