All signs point to a better market for buyers in Charlotte—asking price reductions are on the rise, inventory has improved, home prices are steady.
Yes, but: It might not feel that way if you’re out there searching for the one. I asked my friend McNair, an agent at Dickens Mitchener, why it still doesn’t feel like an easy time to buy.
- It’s true, the Charlotte market as a whole has improved for buyers, he tells me.
- And if you look at a map on Zillow, you’re certainly going to see more options compared to previous years, but once you filter for preferences and budget, that pool of options shrinks considerably. And there’s still a lot of competition out there, McNair says.
Research says: 71% of Charlotte homeowners don’t plan to list their home in the next year, per the latest Scoop poll.
The logic:
- “I have thought about selling and buying newer but every time I think about the process and where we could buy in our area I stop. Our location, our house, the memories, and the history in this home is so special. Of course it needs work, but our almost 100 year old home is iconic and it has so much character you can’t replicate.”
- “We just did a full renovation of our Charlotte home then bought and renovated a beach home right after. Our next move will be when our elementary kids grow up and move us to Southminster.”
- “How could we? It’s the most amazing blessing: a 2600+ sq ft brick colonial on nearly 1/2 acre that we bought for $173k less than a decade ago. You say deal; I say miracle!”
It’s not all doom and gloom, though. Roughly 17% of local homeowners do plan to sell their home, which isn’t nothing.
Final thoughts: It’s easy to say, hard to do—just be patient, hopeful buyers.
