According to the National Association of Realtors, Charlotte home prices saw some of the highest appreciation numbers in the nation during the second quarter of 2017.
Between April 1st and June 30th, median home sale prices in Charlotte grew by 7.4%, compared to a national median home sale price gain of 6.2% for the second quarter of 2017. Most of the Southeast saw gains this past quarter, but few areas were as high as Charlotte. We topped both Atlanta (6.7%) and Charleston (6%), and tied Raleigh-Durham-Chapel Hill (7.4%).
A total of 154 out of the 178 metros areas across the country saw price gains, according to the NAR. Low housing supplies were cited as the primary factor in the record appreciation so far this year.
According to the latest S&P Home Index Report, Charlotte home prices also saw the highest 2016 growth in the nation.
This increasing price trend is causing some homes to sit on the market longer since many sellers won’t settle for anything less than top dollar.
Charlotte area Realtors are now getting creative, finding new ways to sell homes for increasingly higher prices, such as Lake Norman’s new ‘Home of The Day’ trend.