Categories: Pound Ridge

Charlotte seeing its homes sell quickly | Pound Ridge Real Estate

There may be fewer listings on the Charlotte, North Carolina, housing market today than there were a year ago, but what is for sale is selling faster. Closed sales rose nearly 6 percent in July from July of 2013, according to the Charlotte Regional Realtor Association; that, as the inventory of homes for sale fell nearly 5 percent.

“The market is strong, though not everything is selling at the prices the sellers want,” said Bonnie Papandrea, a real estate agent with Wilkinson & Associates Real Estate in Charlotte. “Closer to town, those properties are doing fabulous and getting the price point back to almost 2006.”

The median price of a Charlotte-area home that sold in July rose 5.5 percent from a year ago, and sellers are getting on average about 95 percent of their list price. Sellers have been getting a bit more realistic, at least on a national scale, lowering their list prices and negotiating more, according to a report from Redfin, a national brokerage.

Charlotte had been a target of large-scale investors in single-family rental homes, but that demand is easing, especially as home prices rise. Investors need to get bargain-priced homes in order to make the investment work, and there are fewer and fewer distressed homes coming onto the market. There is also more competition in the market.