We have had a lot of people asking about the market, so I just wanted to give a quick update.
For our local market, inventory is still super low and demand is crazy high especially with such low interest rates.
Currently, our inventory is down 24.9% year over year and we only have 1.8 months of inventory on the market. The days on the market is also down 10% year over year so things are selling quicker than normal. The average marketing time/days on market is currently at 38 days. For us, inventory is just selling super quick.
We have been seeing a lot of demand coming from out of town buyers and those looking to move from larger, urban cities. Although this has always been the case for Charlotte, we feel that it has only picked up here in the last few weeks. With more people now working from home, it seems that buyers are wanting to relocate to less densely populated areas.
Overall, the health of our market is really great! If you have any follow up questions or would like to chat, please let us know.