How about some good news for the Charlotte real estate market for a change?  Home sales in September 2011 (the most recent sales figures on hand) across the country were up 11.3% from the same time last year.  Almost 1/3 of the homes sold in September were bought by first-time home buyers.  Demand for homes is on the rise, interest rates have gone down even further and the median home price across the country has only dropped slightly.

The Charlotte real estate market has shown an increase in the median sales price.  According to Trulia, the median sales price for a home over the last three months is $185,000.  This is a $39,000 (26.7%) increase over the same time period last year.  We're also seeing a decrease in inventory as demand increases.  Credit-worthy buyers are scrambling to get in on the great deal Charlotte homes have to offer.  Pending sales are also on the rise, which is a positive trend. 

The only obstacle that Charlotte buyers as well as others across the country tend to face is the incredibly strict lending standards put in place by the banks.  However, even with the restricted lending policies, the amount of buyers who have succeeded in purchasing their homes has increased over the same time last year.  This indicates an increase in demand for affordable homes on the market.  And Charlotte definitely has plenty of those!

If you're interested in purchasing a Charlotte home of your very own, don't hesitate.  There is plenty of inventory on hand.  However, it is beginning to decrease.  With home prices beginning to rise (again, $39,000 higher than last year) and interest rates remaining extremely low (4.04% as of this post, according to Bankrate.com), anyone with good credit and a downpayment should begin seriously considering a home purchase in the near future.  Just let me know when you want to start looking and I'll be more than happy to help.

Robin Husney, Your Charlotte NC Real Estate Specialist