Hello! I'm Amanda Glenn Evans (Marsh) (a.gem for short), your local real estate expert, here to give you the market lowdown for the Greater Charlotte Market in October 2022. This report's stats are pulled through the most available MLS data end date of September 30, 2022.
What's new with SoldBuyAmanda?
Well, it has been a CRAZY month. With a shifting market - my phone is still ringing, and I'm thankful. I have a handful of new listings coming your way this month, and I can't wait to share them with you. My listing at 3108 Trinity Church Rd., in Concord went under contract, after receiving multiple offers, and now I'm gearing up to launch new listings. What's coming? We've got a home built in 2020 on one acre in the country, a few commercial sites, acreage, and an investment property - all coming your way in the next month!
Market Low-down
Realtors in the Greater Charlotte Market are continuing to see the impacts of rising interest rates.
Year over year, our market saw a decrease of 21% of homes listed for sale, an average sales price increase of almost 13% (down from 16% last month), and had an increase in the average days on market from 19 (last month) to an average of 22 days on market this month. The sales are decreasing, and buyers are starting to shift into a negotiating position, alas-we're seeing due diligence repair requests-and they're getting accepted..
I'm sure you're thinking-what does this mean for me?
If you're looking to sell-is it a good time? Yes. Even with higher interest rates, the overall market is still seeing a hold on the sales price increase since this time last year. So, as a seller-it's important to be prepared that due diligence repair requests WILL happen now that the market has shifted. Coming to terms on requests that are mutually agreeable are key.
If you're looking to buy-is it a good time? It depends. Are interest rates at historically low point? No. If you're renting, I can assure you that building your own equity and refinancing at a later date is a better deal than paying someone else's mortgage-because you're paying 100% interest.
If you have a need, let's talk about the long term plan. What does that mean? A home purchase is a commitment. There is no quick return policy if you hate it (outside of selling it), but if it's one you love, then you can refinance at the right time. If you're looking to stay in the home for a long period of time, then considering a purchase right now might be for you. If you're looking to buy and re-sell in the next few years, well - the market is in a shift, and there is definitely more risk involved-so let's pair you with the right lender to find a loan product that works for you.
Market Reports by area:
Union County
Anson County
Matthews, NC
Stanly County
Cabarrus County
Greater Charlotte Market
As your local expert, it's my honor to walk alongside you in the buying and selling journey. No matter what type of real estate you're looking for, my experience is built on a foundation of 10 years of property management/real estate experience, a masters degree in counseling, and a top-notch negotiating/marketing expert in the realm of residential real estate.
I'm ready to talk when you are, give me a call/shoot me a text 770.653-7370. P.S. you don't have to be READY or PREPARED to brainstorm plans for your future. That's what I'm here for. I've got you covered.
Make it a great week, my friend!
Real Estate buying and selling service areas for Amanda Evans, Realtor/Broker include (but are not limited to: Mecklenburg, Union, Anson, Stanly, Cabarrus, and surrounding counties. Amanda services sellers/buyers with their residential, land, commercial, farm and estate needs. With offices in Monroe and Marshville, North Carolina, Amanda can meet you on site for an appointment at your convenience.
Amanda's Hot Areas for purchase/sale 2022: Matthews, Mint Hill, Indian Trail, Monroe, Wingate, Marshville, New Salem, Unionville, Fairview, Waxhaw, Weddington, Wesley Chapel, Peachland, Polkton, Locust, Midland, Oakboro, Norwood, and Stanfield North Carolina.
Comentarios