Real Estate Trends 2021
Real Estate Market Update 2021
Real Estate and the Pandemic
Covid-19 is still affecting many aspects of our lives, but meanwhile in the Charlotte area, the residential real estate market continues to explode. Homes are selling quickly (sometimes within HOURS), inventory is low and prices are on the rise.
In the Charlotte region, over the past year, new listings are down 2.9%, inventory shrank 28.4%, while pending sales increased 8.5%. These factors combined to give the region just a 1.0-month supply of homes for sale, a 32% decrease over the year. Due to this low inventory and high demand, median sale prices increased 8.0%, to $290,000.
Charlotte has seen quite a few buyers from California and East Coast states like New York, New Jersey and Connecticut, as well as from Chicago. People are wanting to relocate out of the larger cities and come to places like Charlotte and the smaller surrounding areas which are less densely populated. Charlotte has been on a few lists as one of the Best Cities to Live In and people are starting to take notice.
In more recent years, Charlotte has seen a large increase of people moving into the region for employment reasons. Now, with the changing nature of employment, in which more people can work from home (Zoom meetings, etc.), people are moving to Charlotte as their destination of choice. And what a perfect place to make your home. You can travel 3-4 hours and be at one of NC’s beautiful beaches or travel a couple hours to view our majestic mountains!
Making the decision to sell your home is a difficult one, especially during a Sellers Market. Sellers are concerned they would not find a place go. That is where The Sarver Group steps in and walks you through every step of the way to ensure you find your dream home.
Believe it or not, during this pandemic, pets have played a huge part of people’s lives. We have seen lots of pet adoptions. Therefore, people are looking to get out of renting their apartments or selling their Uptown condos and purchasing a single-family homes with a fenced in yard for their new furry family member.
Industry changes
The Covid-19 pandemic caused us to view marketing in a whole new way. We needed to grasp what we could for our clients and provide them with the best customer experience despite not being able to meet in person. Therefore, we saw the need for the increase in the use of video, virtual tour walk throughs & social media. Even moving forward, we will continue to work on and improve upon our technology to continue providing the customer experience our clients have come to expect. We are going to be navigating low inventories and high prices for a while, but we are here to help!