Local Housing Snapshot
After a study by the Charlotte Business Journal, we finally have concrete information on the current state of the local housing market. The CBJ has spent the last four weeks looking in-depth into Charlotte real estate. Why? To determine whether we’re still a hot seller’s market or if we’re slowly creeping back towards buyer power. Here’s what they discovered!
By comparing January to July of 2018 to the same time period in 2019, the CBJ was able to determine that we’re still a seller’s market. The total inventory of existing homes for sale across the Charlotte region in June fell 14%. The just over 9,400 houses on the market represent a 2.3 month supply. For reference, an ideal buyer’s market looks like a 6-month inventory, a mark we’re clearly far off from.
Even though the number of available homes falls below the same amount available this time last year, the good news is that it’s increased since January. As of January 2019, only 8,723 homes were on the market. So while we’re quite obviously still favoring the seller, numbers are slowly creeping up and up.
The news publication put together a comprehensive slideshow featuring all area suburbs and whether they’re showing increases or declines in available housing. To view the complete slideshow, visit the Charlotte Business Journal!