A Year-Over-Year Look at the August Market

Charlotte Real Estate Podcast with Jay White

In today’s real estate market update, let’s compare the numbers from August 2019 to August 2018 to see how things have changed in the last year and what that could mean for our market’s future. New listings: 2018—5,699 2019—5,616 Net decline: 1.46% Homes for sale: 2018—11,416 2019—9,916 Net decline—13.11% Pendings: 2018—4,300 2019—4,796 Net growth—11.53% “In combination with the fact that interest rates are historically low, we don’t see any market factors that will cause home prices to drop.” Closed sales: 2018—4,876 2019—4,958 Net growth—1.68% Median days on market: 2018—13 days to sell 2019—14 days to sell Net growth—7.69% Median price: 2018—$245,000 2019—$257,000 Net growth—4.9% A lot of people have been asking whether we anticipate a bubble in the future. Well, as the number of new listings and homes for sale continue to fall, the rest of the numbers will continue to rise. And as Charlotte gets bigger, the demand for homes will remain, causing home prices to increase. In combination with the fact that interest rates are historically low, we don’t see any market factors that will cause home prices to drop. Hopefully, this gives you some insight into the market and where we might be headed. If you have any questions or if you’re looking for a real estate team to help you buy, sell, or invest, reach out to the White Group. We’d love to help you.