A Look at Half-a-Mil in Charlotte
Recently, the Charlotte Business Journal provided a snapshot of the local real estate market. Specifically, they focused on what homebuyers could expect with a $300K budget. Now, they’re at it again! They’ve provided for us a peek into what to expect if you can spend around $500,000.
Homebuyers in the $500K price range can certainly expect one thing: an uphill battle. While not impossible to score, homes throughout Charlotte priced at half-a-million are not only harder to find, but the ones that are listed are selling super fast.
By The Numbers…
Using data from Canopy MLS, the Charlotte Business Journal reports that there were 130 fewer properties listed at or near $500K in August than there were this time last year. This equates to a drop by nearly 12%. The 966 single-family homes, condominiums and townhouses for sale at this price point represented a 3.7-month supply, down from 4.5% last year, says the CBJ.
What’s interesting to note is that homes in the Charlotte metro at this price point have varying statistics. You’ll find everything from an Uptown condo to a spacious single-family home in Mooresville, but act fast! Homes from January to August spent an average of 63.8 days on the market before going under contract — about a week faster than last year.