Real Estate Market Trends

CHARLOTTE REGION REAL ESTATE REPORT: AUGUST 2023WHAT YOU NEED TO KNOW...WHAT IT MEANS FOR YOU... Inventory Down | New Listings Down | Sales Down | Prices Up  August 2023 home sales declined in the 16-County Charlotte Region year-over-year, as did pending sales. Sales are happening, but not at the volumes experienced in 2021 and the first half of 2022.  By the same token, closings increased month-over-month from July and contract activity remained steady. Although home buyers remain frustrated by fluctuating rates, lack of new inventory, rising home prices, and economic uncertainty it does appear that buyers are adjusting to the higher interest rate environment.   The Charlotte market has stopped seeing large fluctuations in sales and prices, which indicates the market is slowly moving t... 09/23/2023

09/22/2023

On September 18, 2023, California Association of Realtors (C.A.R) reported the homes values lower 0.5% to the price of $915,000 in August of 2023 from price of $920,000 in July of 2023, but higher 3.5% from price of $884,000 in August of 2022 in Ventura County, California. While, homes sales increased 12.0% in August of 2023 from July of 2023, but fell 20.3% from August of 2022 in Ventura County, California.  There were 2.1 months supplies of available inventory of homes in August of 2023, down from 2.3 months in July of 2023, and decreased from 2.3 months in August of 2022 in Ventura County, California.An average it took 25.0 days to sell a home in August 2023, unchanged from 25.0 days in July of 2023, but declined from 31.0 days in August of 2022 in Ventura County, California.For comp... 09/22/2023

If you are looking for a nags head rental house, you might be wondering if it is worth paying extra for one that has an in ground pool. There are several advantages in having a pool in your vacation home, especially if you enjoy swimming, relaxing, or entertaining guests. Here are some of the benefits of having a pool in your nags head rental house:- You can swim anytime you want, without having to worry about the weather, the tides, or the crowds at the beach. Swimming is a great way to exercise, relieve stress, and have fun with your family and friends.- You can enjoy the privacy and comfort of your own pool, without having to share it with strangers or follow the rules of a public pool. You can also customize the pool to your liking, such as adjusting the temperature, adding lights, ... 09/22/2023

Nags Head Single Family Homes Sold Jan 1 - July 1, 2023 Sold Market   No. of Listings Dollar Volume Average Price Median Price Average DOM Other 2 $1,340,000 $670,000 $670,000 4 Conventional 53 $41,922,707 $790,994 $661,000 45 FHA 1 $520,000 $520,000 $520,000 2 Cash 20 $17,817,350 $890,868 $760,000 48 Jumbo Loan 1 $1,550,000 $1,550,000 $1,550,000 35 Analysis By Area Nags Head Oceanside 6 $10,938,200 $1,823,033 $1,759,100 113 S. N.H. East/Old Oregon R 7 $7,084,000 $1,012,000 $805,000 64 Nags Head between hwys 16 $13,762,027 $860,127 $924,950 46 S. N.H. West/Old Oregon R 9 $7,869,500 $874,389 $765,000 32 Nags Head Westside 39 $23,496,330 $602,470 $575,000 31 Totals 77 $63,150,057 $820,131 $679,000 44 Non Co-op Sales 6 $5,280,000 $880,000 $800,500 6 Co-op Sales 71 $57,870,057 $815,071 $679... 09/22/2023

Why Charlotte Housing Inventory Remains Stubbornly LowWhy does Charlotte have one of the worst housing supply shortages in the country? The short answer is low supply and heavy demand. Lee Allen, the president of Charlotte’s Canopy Realtor Association notes that while demand for Charlotte real estate remains high, local builders simply cannot keep up. As Allen puts it, “As a result, we are a million and a half homes short of inventory to meet with the buyer demand.”That’s the reality, despite many factors at play that tend to cool down the market. The Federal Reserve has boosted interest rates. Freddie Mac reports that the current rate on a 30-year mortgage remains above 6.5%, the highest in twenty years. However, not only do higher rates pressure many potential buyers to hold off on ma... 09/22/2023

Latest news on Charlotte Region's luxury homes market...What happened in August 2023... What you need to know now...  Charlotte Region single family luxury home market more than held its own in August 2023: Luxury home sales Charlotte Region in August saw average and median home sale prices increase from from July and June 2023. Pending sales declined, while closed sales increased year-over-year and month-over-month. Median days on market were just eight. Average days on market declined from July 2023 and increased by just two days from August one year ago. Median list to sale price ratio was 98.6%. New listings increased 9.8%. Inventory declined 6%. Months supply of inventory declined 0.4 months year-over-year to 3.1 months, keeping luxury home sellers in the "driver's seat" in the Cha... 09/22/2023

On September 18, 2023, California Association of Realtors (C.A.R) reported the homes values unchanged 0.0% to the price of $830,000 in August of 2023 from price of $830,000 in July of 2023, but gained 4.4% from price of $795,000 in August of 2022 in Southern California. While, homes sales increased 7.9% in August of 2023 from July of 2023, but fell 13.9% from August of 2022 in Southern California.There were 2.3 months supplies of available inventory of homes in August of 2023, down from 2.5 months in July of 2023, and decreased from 3.0 months in August of 2022 in Southern California. An average it took 18.0 days to sell a home in August 2023, up from 17.0 days in July of 2023, but declined from 23.0 days in August of 2022 in Southern California.For complete more detailed information ab... 09/22/2023

Ballantyne – Blakeney Neighborhood Market Update SEPT 2023– MITCHELL GLEN Popular South Charlotte neighborhood in top-ranked school zone offers wonderful amenities with LOW HOA DUES. Amenities include recreation area, playground and pond. Sales in Mitchell Glen continue to show an incredibly strong market. Average sales prices remain some of the strongest in the area. Days on the market are just 5 days and there are currently no homes in Mitchell Glen that are actively being marketed - no active, coming soon listings or any currently in Escrow at the moment.Here is the Ballantyne – Blakeney Neighborhood Market Report from August, 2023 final data -  MITCHELL GLEN: Current Average Sales Price in Mitchell Glen ($551,500)  Mitchell Glen's Average Days on the Market - 44  Average List-to-Sal... 09/21/2023

As a dedicated real estate broker, I recently experienced something that left me both nostalgic and concerned.I held an open house this weekend, and to my surprise, no one came. It got me thinking about the remarkable journey of open houses in the real estate industry. Decades ago, they were grand events, attracting throngs of prospective buyers with the promise of extravagant giveaways. However, in today's rapidly evolving world, it seems that open houses have lost some of their allure. In this blog post, we'll explore the history and transformation of open houses and discuss how the recent global pandemic has further impacted this age-old practice.  The Glory Days of Open Houses: At their zenith, open houses were nothing short of a spectacle. Picture the 1950s: homeowners in Dallas of... 09/21/2023

Awbrey Glen Is An Established Bend Luxury Subdivision Brooks Resources broke ground on Awbrey Glen in 1993 and completed the subdivision in 2006. Its 156 homesites were sold individually to buyers who were able to hire their own contractor to build their custom home, subject to architectural guidelines. This created a neighborhood of unique high end homes, many of which bordered Awbrey Glen Golf Course. Today there are 375 members of Awbrey Glen Golf Club, a private club offering the golf course, restaurant, pool, fitness facility, and many activities. People who live at Awbrey Glen tend to enjoy their home and social life. Awbrey Glen Sales Prices Dropping Unlike Bend in general, home prices in Awbrey Glen are going down. This may be partly because Awbrey Glen's listings are limited. ... 09/21/2023

Thursday For is a weekly blog that comes out every ...... Thursday right Charles will blog about anything or requests that people want to hear about. This week many requests came in about "How Is The Market?" Steps to take when buying a home.  This year may go down as the year of correction. After a pandemic-fueled, sellers' market, the bidding wars, and shortages of homes on the market I need not mention that builders didn't want another 08 on their hands. After a cooling period in 2022, we get to 2023 with high inflation, high-interest rates, and still no homes for sale to speak of, it is no wonder a buyer is confused.  But there is no need for confusion it is why the rich get rich and the poor get poorer never gamble with your life or livelihood or depend on the government always li... 09/21/2023

 If you are interested in finding out the value of YOUR home, call 772-485-4188  or visit my site at Determine Your Home's Value. https://app.ziptitan.com/q/anna-chroscicki/home-valuation/🏡For answers to your Real Estate questions, call 772-485-4188 Anna ChroscickiREMAX MasterpieceVisit www.annasellsrealestate.com 09/21/2023

  Local Market Update  Makiki & Moili'ili Honolulu, August 2023   Single Family Homes August Year to Date 2023 / 2022 Change% 2023 / 2022 Change% Closed Sales 3 / 14  -79%  59 / 91  -35%  Median Sales Price $1.65M / $1.46075M   13%   $1.5M / $1.62M  -7%   Percent of Original List Price Received 101.1% / 101.9%  -1% 97.6% / 100.5%  -3% Median Days on Market Until Sale 21 / 14   50% 15 / 13  15% New Listings 11 / 16  29% 104 / 118  -12% Pending Sales 4 / 12  36% 74 / 100  -26% Active Inventory 33 / 25  32% ---    Condos August Year to Date 2023 / 2022 Change% 2023 / 2022 Change% Closed Sales 56 / 55  2% 335 / 541  -38%  Median Sales Price $384,500 / $410,000  -6%   $405,000 / $410,000  -1%  Percent of Original List Price Received 99.6% / 99.1%  1% 98.8% / 100.0%  -1% Median Days on Market... 09/23/2023

There is a lot of talk about what will happen with the housing market and home values. Some predict we'll have a market crash while others predict that things will be ok. Which one will it be or something in the middle? I highlight some forecasts by the experts and share what buyers and sellers should expect the last part of 2023.Questions? Get in touch, I'd be glad to talk with you!Sean Gilliam 09/21/2023

On September 18, 2023, California Association of Realtors (C.A.R) reported the condo and town-homes values higher 1.9% to the price of $657,000 in August of 2023 from price of $645,000 in July of 2023, and rose 6.0% from price of $620,000 in August of 2022 in California. While, the condo and town-homes sales increased 12.2% in August of 2023 from July of 2023, but fell 14.6% from August of 2022.There were 2.2 months supplies of available inventory of condo & town-homes in August of 2023, down from 2.4 months in July of 2023, and lower from 2.3 months in August of 2022 in California.An average it took 16.0 days to sell a condo & town-home in August 2023, unchanged from 16.0 days in July of 2023, but dropped from 21.0 days in August of 2022 in California.For complete more detailed informa... 09/21/2023

Residential Houses for Sale in Middletown Township, Delaware County, PA as of September 19, 202333 Active ListingsPrice Range $393,000 - $2,145,00072 Houses Pending Sale Sold in Middletown Township August 2021 2022 2023 # Sold 28 33 20 Average Days on Market 22 35 69 Minimum Price Sold $90,000 $135,000 $75,000 Maximum Price Sold $1,148,000 $1,150,000 $1,425,000 Median Price Sold $522,816 $620,049 $611,250 (info Bright MLS various brokers/agents)Middletown Twp is part of Rose-Tree Media School District. 09/20/2023

Residential Houses for Sale in Parkside, Delaware County, PA as of August 21, 20233 Active ListingsPrices $190,000 and $275,0003 Houses are Pending Sale Sold in Parkside in August  2021 2022 2023 # Sold 2 3 2 Average Days on Market 5 27 7 Minimum Price Sold $158,500 $130,000 $245,000 Maximum Price Sold $240,000 $350,000 $303,000 Median Price Sold $199,250 $248,000 $274,000 (info Bright MLS various brokers/agents)Phil and Jim's Parkside PAParkside PA is part of the Penn-Delco School District. 09/20/2023

Residential Houses For Sale in Media, Delaware County, PA as of September 19, 20234 Active Listings Price Range $300,000 - $895,0007 Houses Pending Sale Sold in Media in August 2021 2022 2023 # Sold 4 4 3 Average Days on Market 7 40 7 Minimum Price Sold $215,000 $265,000 $170,000 Maximum Price Sold $620,000 $650,000 $450,500 Median Price Sold $540,500 $457,000 $440,000 (info Bright MLS various brokers/agents)Media, PA is the County Seat of Delaware County.  Its motto is "Everybody's HomeTown".    09/20/2023

Residential Houses For Sale in Springfield, Delaware County, PA as of September 19, 202317 Active ListingsPrice Range $269,900 - $1,250,00024 Houses Pending Sale Sold in Springfield in August 2021 2022 2023 # Sold 30 22 24 Average Days on Market 12 15 10 Minimum Price Sold $170,000 $280,000 $270,000 Maximum Price Sold $560,000 $755,000 $700,000 Median Price Sold $412,275 $419,000 $427,500 (info Bright MLS various brokers/agents)Smedley Park Smedley Park Springfield PAGolf View 55+ Community in Springfield PA  09/20/2023