Here's your one minute housing market video update from RE/MAX for September 2017 using August 2017 housing data based on 54 metro areas around the country.
U.S. home sales in August continued a summer of strong demand and weak inventory, resulting in listings with short shelf lives and higher sales prices year-over-year. Inventory in the report’s 54 markets declined 3.9% from July and 13.7% from a year ago, causing the fastest listing-to-sale average for any August. In addition to the normal late summer real estate trends, a primary focus for the coming month will be on housing in specific markets affected by natural disasters such as devastating wildfires and hurricanes Harvey and Irma.
- Home sales down 0.84%
- Median price of homes sold up 5.4% to $236,475
- Average days on market were down by 7 days to 47 days
- Number of homes for sale down 13.7%
Home buyer demand remains strong. There simply are not enough sellers listing their homes, despite rising prices and increasing interest rates.
So, is now the right time to sell your Charlotte metro area home? That depends on your motivation. If you'd like to have a quick conversation about that please contact Carolinas Realty Partners with RE/MAX Executive. We'd be delighted to explore the pros and cons of listing your home now versus waiting.
This monthly RE/MAX National Housing Report for September 2017 is brought to you by Nina Hollander and Carolinas Realty Partners with RE/MAX Executive, your Charlotte metro area real estate consultants.
If you are considering purchasing or selling a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:
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