The reports are out for 2021, and it was a record-breaking year. The Charlotte Residential real estate market report provided by Canopy MLS can be seen below. The reports at mid-year indicated a 18.8% increase in sales price over 2020 and ended up at +15.5% year over year. Closed sales were up +8.2% over 2020, even though reports of low inventory. Mortgage rates, which began the year at historic lows, remain attractive, and homeowners who choose to sell in the coming months can expect to see plenty of buyer activity due to pent-up demand during the pandemic.
Is It A Good Time To Buy A Home In Charlotte?
Mortgage rates are still historically low, and economists expect them to hold pretty steady throughout 2022. What does this mean? Fannie Mae says US home prices will climb 7.9% this year, while the Mortgage Bankers Association predicts median existing home prices will fall 2.5% in 2022. The difference is the assumption of where the 30-year fixed mortgage rate will finish this year. The higher the mortgage rates go, the more bearish the outlook for home price growth.
Do I Need A Broker In This Hot Market?
Working with the right real estate agent is the key to navigating this hot market. The agents at Dickens Mitchener are full-time agents who have access to fellow agents who can alert them to upcoming listings, exclusive listings that aren’t in MLS, and contacts in neighborhoods you may be looking in. They are the go-to market professionals in the Charlotte, NC region. In 2021, our agents sold 1322 homes with an average of 12 units per agents. Contact your preferred Dickens Mitchener agent today if you are thinking of making a move in 2022. Stop paying someone else’s mortgage this year and find your home.
