Inventory for Homes in Eilzabeth Neighborhood is Down, So Home Prices are UP!
Inventory for homes in Charlotte’s Elizabeth neighborhood is down and home prices are up! This means GOOD NEWS: Sellers are now seeing multiple offers, full-price offers and even selling their home in as little as two days!
Charlotte-area home sales jumped 33 percent in July from a year ago and buyers continued to pay more- further evidence that sellers hold the upper hand in the local housing market. The Charlotte Regional Realtor Assocaition, citing preliminary figures, said there were 3,527 sales of existing homes in July, up from 2,651 a year ago. It was the largest year-over-year increase in sales since April’s 35 percent gain. In the Charlotte Observer article from Thursday, August 8, Deon Roberts writes that “The strengthening market is bolstering sellers’ confidence, encouraging many to finally sell after the housing market crash put them on the fence.”
This declining inventory is likely contributing to homes in the Charlotte-region, and the Elizabeth neighborhood, selling more quickly.