Market Snapshot March 2016

There are still a low number of homes for sale in the Charlotte area. Many sellers are asking for a higher price than normal on their home, and then receiving it due to attracting multiple offers. I am seeing fewer appraisals hold down the prices, therefore sales prices are increasing in correlation with the high buyer demand. Buyers should be prepared to make offers quickly by working with a Realtor who knows when homes hit the market and by already being preapproved for a loan. Having both of these done will help buyers compete with other offers.